Duo Qin () (Queen Mary, University of London) Marie Anne Cagas (Asian Development Bank (ADB)) Geoffrey Ducanes (Asian Development Bank (ADB)) Xinhua He (Institute of World Economics & Politics (IWEP), Chinese Academy of Social Sciences (CASS)) Rui Liu (Institute of World Economics & Politics (IWEP), Chinese Academy of Social Sciences (CASS)) Shiguo Liu (Institute of World Economics & Politics (IWEP), Chinese Academy of Social Sciences (CASS)) Nedelyn Magtibay-Ramos (Asian Development Bank (ADB)) Pilipinas Quising (Asian Development Bank (ADB))
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This paper describes a quarterly macroeconometric model of the Chinese economy. The model comprises household consumption, investment, government, trade, production, prices, money, and employment blocks. The equilibrium-correction form is used for all the behavioral equations and the general→simple dynamic specification approach is adopted. Great efforts have been made to achieve the best possible blend of standard long-run theories, country-specific institutional features and short-run dynamics in data. The tracking performance of the model is evaluated. Forecasting and empirical investigation of a number of topical macroeconomic issues utilizing model simulations have shown the model to be immensely useful.
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Paper provided by Queen Mary, University of London, Department of Economics in its series Working Papers with number
553.
Qin, Duo & Cagas, Marie Anne & Ducanes, Geoffrey & He, Xinhua & Liu, Rui & Liu, Shiguo & Magtibay-Ramos, Nedelyn & Quising, Pilipinas, 2007.
"A macroeconometric model of the Chinese economy,"
Economic Modelling,
Elsevier, vol. 24(5), pages 814-822, September.
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Find related papers by JEL classification: C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation
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