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Outline of the Core Model

In: KLEIN’S LAST QUARTERLY ECONOMETRIC MODEL OF THE UNITED STATES Wharton Quarterly Econometric Model: Mark 10

Author

Listed:
  • Lawrence Klein
  • Kanta Marwah
  • Shinichi Ichimura
  • Soshichi Kinoshita
  • Mitsuo Yamada

Abstract

The core model of WEFA Mark 10 in this book constructs the US Economy model by subdividing the whole system into the following 10 different sectors plus one miscellaneous sector: (1) Final demand, (2) Income determination, (3) Labor market, (4) Price and costs, (5) Government revenue and expenditure, (6) Production and sectoral demand, (7) Population and demographics, (8) Money and finance, (9) Auto and petroleum market, (10) International sector, and (11) Miscellaneous.This chapter describes the basic way of thinking in our core model, following the exposition given in Chapter 1, and the detailed equations are provided in Chapter 5.

Suggested Citation

  • Lawrence Klein & Kanta Marwah & Shinichi Ichimura & Soshichi Kinoshita & Mitsuo Yamada, 2018. "Outline of the Core Model," World Scientific Book Chapters, in: Shinichi Ichimura & Soshichi Kinoshita & Mitsuo Yamada (ed.), KLEIN’S LAST QUARTERLY ECONOMETRIC MODEL OF THE UNITED STATES Wharton Quarterly Econometric Model: Mark 10, chapter 2, pages 7-12, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813230545_0002
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    Keywords

    Quarterly Econometric Model; Wharton; WEFA; Forecast; Klein;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics

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