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Overview of Recent Progress in Macroeconomic Modelling in the Central Bank


  • O'Donnell, Nuala

    (Central Bank of Ireland)


This paper outlines the context within which the Bank’s Macro-Econometric model was initially built and the reasons for the revision and re-estimation.

Suggested Citation

  • O'Donnell, Nuala, 2005. "Overview of Recent Progress in Macroeconomic Modelling in the Central Bank," Quarterly Bulletin Articles, Central Bank of Ireland, pages 115-131, October.
  • Handle: RePEc:cbi:qtbart:y:2005:m:10:p:115-131

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    References listed on IDEAS

    1. Meyler, Aidan, 1999. "The Non-Accelerating Inflation Rate of Unemployment (NAIRU) in a Small Open Economy: The Irish Context," Research Technical Papers 5/RT/99, Central Bank of Ireland.
    2. Fair, Ray C & Taylor, John B, 1983. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models," Econometrica, Econometric Society, vol. 51(4), pages 1169-1185, July.
    3. Phillips, P C B, 1991. "Optimal Inference in Cointegrated Systems," Econometrica, Econometric Society, vol. 59(2), pages 283-306, March.
    4. Peter C. B. Phillips & Bruce E. Hansen, 1990. "Statistical Inference in Instrumental Variables Regression with I(1) Processes," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 99-125.
    5. Phillips, Peter C B, 1994. "Some Exact Distribution Theory for Maximum Likelihood Estimators of Cointegrating Coefficients in Error Correction Models," Econometrica, Econometric Society, vol. 62(1), pages 73-93, January.
    6. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    7. Kieran McQuinn & Nuala O’Donnell & Mary Ryan, 2005. "Central Bank and Financial Services Authority of Ireland's model," Chapters,in: Econometric Models of the Euro-area Central Banks, chapter 11 Edward Elgar Publishing.
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