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SAFFIER A multi-purpose model of the Dutch economy for short-term and medium-term analyses

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Author Info
Henk Kranendonk ()
Johan Verbruggen ()
Abstract

Since late 2004, CPB Netherlands Bureau for Economic Policy Analysis has been using the macro-econometric model SAFFIER for its short-term and medium-term analyses. This model resulted from the integration of the quarterly model SAFE and the yearly model JADE. SAFFIER is a multi-purpose model. The quarterly version of the model, used for short-term analyses, only differs from its yearly version, used for medium-term analyses, in the specification of the lag structures. All other (non-technical) specifications are identical in both versions of the model. Simultaneously with the integration of SAFE and JADE, some innovations with respect to the modelling of the wage rate, private consumption, exports, the public sector and the house-price development have been incorporated. In the wage equation, the elasticity of the replacement rate is no longer constant, but is depending on the actual labour-market situation.
This publication sketches the outlines of the SAFFIER model, focusing on the main innovations. In order to explain the working of the model, the results from a number of standard shocks are presented.

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File URL: http://www.cpb.nl/eng/pub/cpbreeksen/document/144/doc144.pdf
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Paper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Documents with number 144.

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Date of creation: Apr 2007
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Handle: RePEc:cpb:docmnt:144

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Related research
Keywords: macro-econometric model; wage equation; simulations;

Find related papers by JEL classification:
C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Other Model Applications
E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation
E27 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Henk Don & Johan Verbruggen, 2006. "Models and methods for economic policy; 60 years of evolution at CPB," CPB Discussion Papers 55, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  2. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January. [Downloadable!] (restricted)
  3. Mauro Mastrogiacomo, 2006. "Testing consumers' asymmetric reaction to wealth changes," CPB Discussion Papers 53, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  4. Hertel, Thomas & David Hummels & Maros Ivanic & Roman Keeney, 2003. "How Confident Can We Be in CGE-Based Assessments of Free Trade Agreements?," GTAP Working Papers 1324, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University. [Downloadable!]
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  5. F. J. H. Don & J. P. Verbruggen, 2006. "Models and methods for economic policy: 60 years of evolution at CPB," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 60(2), pages 145-170. [Downloadable!] (restricted)
  6. Thomas Dalsgaard & Christophe André & Pete Richardson, 2001. "Standard Shocks in the OECD Interlink Model," OECD Economics Department Working Papers 306, OECD, Economics Department. [Downloadable!]
  7. Arjan Lejour & Paul Veenendaal & Gerard Verweij & Nico van Leeuwen, 2006. "Worldscan; a model for international economic policy analysis," CPB Documents 111, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  8. Robert Paul Berben & Kerstin Bernoth & Mauro Mastrogiacomo, 2006. "Households' Response to Wealth Changes: Do Gains or Losses make a Difference?," CPB Discussion Papers 63, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
    Other versions:
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Philip Hans Franses & Henk Kranendonk & Debby Lanser, 2007. "On the optimality of expert-adjusted forecasts," CPB Discussion Papers 92, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
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