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Standard Shocks in the OECD Interlink Model

Author

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  • Thomas Dalsgaard
  • Christophe André
  • Pete Richardson

Abstract

One of the OECD Economic Department’s key vehicles for analysing effects and international spillovers of macroeconomic policy as well as assessing risks to the global outlook is the macroeconometric model, INTERLINK. In the context of the Department’s regular projection exercises the model performs a variety of functions. These include 1) contributing to the construction and co-ordination of individual country projections; 2) the production of globally consistent trade projections; and 3) simulations to explore the short- to medium-term consequences of alternative economic conditions and policy assumptions. This paper briefly describes the main features of the current version of INTERLINK and presents the results of a number of standard macroeconomic shocks. These simulation results reflect the combination of unadjusted model properties and the specific stylised policy assumptions made. In the course of more routine policy analysis with the model at the OECD, these are augmented by ... Le modèle macro-économétrique INTERLINK est l’un des principaux outils du Département des affaires économiques de l’OCDE pour analyser les effets directs et les répercussions internationales des politiques économiques et pour évaluer les risques pesant sur les perspectives globales. Dans le cadre des exercices réguliers de prévision, le modèle remplit diverses fonctions parmi lesquelles : 1) contribuer à la construction et à la coordination des prévisions de chaque pays; 2) produire des prévisions du commerce international globalement cohérentes; et 3) réaliser des simulations pour explorer les conséquences à court et à moyen terme de différentes hypothèses sur l’environnement économique et les politiques économiques. Ce document de travail décrit brièvement les principales caractéristiques de la version actuelle d’INTERLINK et présente les résultats de chocs macro-économiques standards. Ces résultats de simulations reflètent à la fois les propriétés intrinsèques du modèle et des ...

Suggested Citation

  • Thomas Dalsgaard & Christophe André & Pete Richardson, 2001. "Standard Shocks in the OECD Interlink Model," OECD Economics Department Working Papers 306, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:306-en
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    File URL: http://dx.doi.org/10.1787/000706200171
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    Keywords

    forecasting; macroeconometric model; modèle macroéconométrique; perspectives; simulation; simulation;

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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