Introducing the MONIAC: an early and innovative economic model
AbstractThe MONIAC hydraulic computer is an example of a mechanical economic model dating to the 1940s. This article introduces the MONIAC and its creator, New Zealand economist Bill Phillips. Although the MONIAC is not used for policy analysis at the Reserve Bank, large-scale, practical macroeconomic modelling has long been part of our research and policy effort. Our modelling has evolved considerably in the nearly 40 years since macroeconomic modelling was introduced in the Bank, reflecting developments in economic theory and understanding of the New Zealand economy as it changes over time. In no small part, the improvement has been facilitated by the enormous increase in computing power in the decades since MONIAC was developed. The only working MONIAC in the Southern hemisphere is on display in the Reserve Bank Museum, on long-term loan from the New Zealand Institute of Economic Research (NZIER).
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Reserve Bank of New Zealand in its journal Reserve Bank of New Zealand Bulletin.
Volume (Year): 70 (2007)
Issue (Month): (December)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Reserve Bank of New Zealand Knowledge Centre).
If references are entirely missing, you can add them using this form.