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The Forecasting and Policy System: demand-side satellite models

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Abstract

This paper presents three satellite models for the Forecasting and Policy System (FPS). Satellite models are used to disaggregate the projections generated by the core model into a more detailed profile. The household expenditure, exports, and business investment satellite models disaggregate the relevant macroeconomic variables by modelling the shares of each aggregate allocated to each expenditure item. The models are assessed by examining their dynamic properties in response to artificial shocks and their ability to track historical data.

Suggested Citation

  • James Breece & Vincenzo Cassino, 1998. "The Forecasting and Policy System: demand-side satellite models," Reserve Bank of New Zealand Discussion Paper Series G98/3, Reserve Bank of New Zealand.
    • Handle: RePEc:nzb:nzbdps:1998/03
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Discussion%20papers/1998/g98-3.pdf
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    Cited by:

    1. Björn A. Hauksson, 2005. "Aggregate business fixed investment," Economics wp27_bjorn, Department of Economics, Central bank of Iceland.
    2. Aaron Drew & Ben Hunt, 1998. "The Forecasting and Policy System: preparing economic projections," Reserve Bank of New Zealand Discussion Paper Series G98/7, Reserve Bank of New Zealand.

    More about this item

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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