A macroeconometric model of the Chinese economy
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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- J. J. Polak, 1997. "The IMF Monetary Model At Forty," IMF Working Papers 97/49, International Monetary Fund.
- Qin, Duo & Cagas, Marie Anne & Quising, Pilipinas & He, Xin-Hua, 2006.
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- Duo Qin & Marie Anne Cagas & Pilipinas Quising & Xin-Hua He, 2005. "How Much Does Investment Drive Economic Growth in China?," Working Papers 545, Queen Mary University of London, School of Economics and Finance.
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