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Price Determination in the Major Seven Country Models in INTERLINK

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  • Ulrich Stiehler

Abstract

This paper presents new domestic price blocks for the major seven economies in INTERLINK, the Economics and Statistics Department's world econometric model. Theoretical, statistical and practical aspects of new behavioural price equations are discussed in a model context. Results from a variety of diagnostic simulations using the new price blocks are presented, suggesting some important improvements in the overall simulation properties of INTERLINK compared to previous versions ... Cet article présente de nouveaux blocs de prix intérieurs pour les sept principaux pays d'INTERLINK, le modèle économétrique mondial du Département des affaires économiques et statistiques. Les aspects théoriques, statistiques et pratiques des nouvelles équations de comportement des prix sont discutés dans le cadre du modèle. Les résultats obtenus après un grand nombre de simulations visant à établir un diagnostic et utilisant les nouveaux blocs de prix sont présentés dans cette étude. Comparés à ceux des versions précédentes, ils suggèrent d'importantes améliorations de l'ensemble des propriétés de simulation du modèle INTERLINK ...

Suggested Citation

  • Ulrich Stiehler, 1987. "Price Determination in the Major Seven Country Models in INTERLINK," OECD Economics Department Working Papers 44, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:44-en
    DOI: 10.1787/443241862143
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    Cited by:

    1. Lionel de Boisdeffre & Pierre Joly, 1991. "Inflation et chômage : le rôle de la flexibilité," Économie et Statistique, Programme National Persée, vol. 246(1), pages 65-74.

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