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A Sectoral Model Extension to STREAM

Author

Listed:
  • Noel Rapa

    (Central Bank of Malta)

Abstract

This paper proposes a sectoral extension to STREAM, the Bank’s main macroeconometric model. The extension documented in this paper borrows heavily from linking integration strategies prevalent in literature. The approach utilised here however, differs in two main ways when compared to existing integrated models. Unlike other integrated models the model proposed in this paper makes use of three modules and two different integration strategies, making it extremely flexible and able to answer a range of policy oriented questions. Secondly, this model utilises a fully-fledged macroeconometric model in its EC module, allowing for more realistic dynamics when compared to the single equation EC models used in literature.

Suggested Citation

  • Noel Rapa, 2020. "A Sectoral Model Extension to STREAM," CBM Working Papers WP/08/2020, Central Bank of Malta.
    • Handle: RePEc:mlt:wpaper:0820
    as

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    File URL: https://www.centralbankmalta.org/site/excel/working-papers/WP-08-2020.pdf
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    References listed on IDEAS

    as
    1. Noel Rapa, 2017. "Estimates of Fiscal Multipliers using MEDSEA," CBM Working Papers WP/04/2017, Central Bank of Malta.
    2. William Gatt & Noel Rapa & Luca Brugnolini, 2020. "MEDSEA-FIN A DSGE model of the Maltese economy with housing and financial frictions," CBM Working Papers WP/04/2020, Central Bank of Malta.
    3. Noel Rapa, 2016. "MEDSEA : a small open economy DSGE model for Malta," CBM Working Papers WP/05/2016, Central Bank of Malta.
    4. Ian P Cassar, 2015. "Estimates of output, income value added and employment multipliers for the Maltese economy," CBM Working Papers WP/03/2015, Central Bank of Malta.
    5. Preston, Ross S, 1975. "The Wharton Long Term Model: Input-Output within the Context of a Macro Forecasting Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(1), pages 3-19, February.
    6. Owen Grech & Noel Rapa, 2016. "STREAM: A structural macro-econometric model of the Maltese economy," CBM Working Papers WP/01/2016, Central Bank of Malta.
    7. Grech, Aaron George & Grech, Owen & Micallef, Brian & Rapa, Noel & Gatt, William, 2013. "A Structural Macro-Econometric Model of the Maltese Economy," MPRA Paper 46128, University Library of Munich, Germany.
    8. Iris Claus, 2003. "Changes in New Zealand's Production Structure: An Input Output Analysis," Treasury Working Paper Series 03/01, New Zealand Treasury.
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    Cited by:

    1. Juergen Attard & John Farrugia, "undated". "Malta’s public finances through the COVID-19 pandemic," CBM Policy Papers PP/09/2021, Central Bank of Malta.
    2. Glenn Abela, 2022. "Assessing the impacts of the COVID-19 wage supplement scheme: A microsimulation study," CBM Working Papers WP/06/2022, Central Bank of Malta.
    3. Nathaniel Debono & Noel Rapa, "undated". "The economic effects of the COVID-19 tourism downturn," CBM Policy Papers PP/08/2021, Central Bank of Malta.

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    More about this item

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods

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