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Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy

Author

Listed:
  • Tarkka, Juha
  • Männistö, Hanna-Leena
  • Willman, Alpo

Abstract

This paper describes the structure and simulation properties of the Bank of Finland's macroeconometric model BOF4. BOF4 is a quarterly, medium-sized macro model of the Finnish economy, consisting of about 70 behavioural equations. Including accounting identities and technical linkages of variables, the overall size of the model is about 270 equations. It replaced the previous (BOF3) model version in 1987, and has been used regularly thereafter for forecasting and policy analysis.

Suggested Citation

  • Tarkka, Juha & Männistö, Hanna-Leena & Willman, Alpo, 1990. "Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 2/1990, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp1990_002
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    File URL: https://www.econstor.eu/bitstream/10419/211577/1/bof-rdp1990-002.pdf
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    References listed on IDEAS

    as
    1. Tarkka, Juha & Willman, Alpo & Rasi, Chris-Marie, 1988. "Production and employment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 14/1988, Bank of Finland.
    2. Tarkka, Juha, 1985. "Monetary policy in the BOF3 quarterly model of the Finnish economy," Economic Modelling, Elsevier, vol. 2(4), pages 298-306, October.
    3. Lybeck, Johan A, et al, 1984. " A Comparison of the Dynamic Properties of Five Nordic Macroeconometric Models," Scandinavian Journal of Economics, Wiley Blackwell, vol. 86(1), pages 35-51.
    4. Tarkka, Juha & Willman, Alpo, 1988. "Exports and imports in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 3/1988, Bank of Finland.
    5. Kouri, Pentti J K & Porter, Michael G, 1974. "International Capital Flows and Portfolio Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 443-467, May/June.
    6. repec:zbw:bofrdp:1988_014 is not listed on IDEAS
    7. repec:zbw:bofrdp:1988_003 is not listed on IDEAS
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    Cited by:

    1. Virén, Matti, 1990. "An analysis of advance effects of anticipated policy actions: Recent results with the Finnish MICRO-QMED model," Bank of Finland Research Discussion Papers 15/1990, Bank of Finland.
    2. Tarkka, Juha & Willman, Alpo, 1990. "Income distribution and government finances in the BOF4 model of the Finnish economy," Bank of Finland Research Discussion Papers 7/1990, Bank of Finland.

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