This paper provides a description of Istat’s new Macroeconometric Model MeMo-It. This is the tool used by Istat to produce bi-annual medium-term forecasts of the Italian economy since May 2012. The key model’s features are illustrated and compared with other modeling approaches used in the literature. The paper describes the theoretical foundations of the model along with the set of equations and their estimation. It also presents an assessment of model’s performance by focusing on the key multipliers.
Building the core of the Istat system of models for forecasting the Italian economy: MeMo-It / Fabio Bacchini; Cristina Brandimarte; Piero Crivelli; Roberta De Santis; Marco Fioramanti; Alessandro Girardi; Roberto Golinelli; Cecilia Jona-Lasinio; Massimo Mancini; Carmine Pappalardo; Daniela Rossi; Marco Ventura; Claudio Vicarelli. - In: RIVISTA DI STATISTICA UFFICIALE. - ISSN 1972-4829. - ELETTRONICO. - 1:(2013), pp. 17-45.
Building the core of the Istat system of models for forecasting the Italian economy: MeMo-It
GOLINELLI, ROBERTO;
2013
Abstract
This paper provides a description of Istat’s new Macroeconometric Model MeMo-It. This is the tool used by Istat to produce bi-annual medium-term forecasts of the Italian economy since May 2012. The key model’s features are illustrated and compared with other modeling approaches used in the literature. The paper describes the theoretical foundations of the model along with the set of equations and their estimation. It also presents an assessment of model’s performance by focusing on the key multipliers.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
