The SSEM Model: A Brief Description
1982 (English)Report (Other academic)
This short paper presents the main features of a new minimal model of the Swedish economy that is currently being developed at the Stockholm School of Economics. Both the model and the results presented are to be regarded as preliminary, since the work on the model is still in progress. During the 1950's and 60's econometric model building was predominantly directed toward the construction of large-scale models. One may say that the general attitude was that sifficiently detailed and elaborated models could help solving most problems in policy analysis and forecasting. With the more unstable economics conditions of the 1970's many large-scale models ran into serious trouble. The size of the models made it difficult to see what went wrong.
The need for econometric models that are more closely linked to recent work in macro theory has stimulated work with small-scale, ghighly aggregative econometric models with strong emphasis on their theoretical underpinnings. The work with the SSEM model can be said to have got its inspiration from this development. In structure and in specification, the model is similar to work initiated at the London School of Economics by A R Bergstrom et al. Examples of this type of model can be found in Bergstrom and Wymer (1974), Jonson (1976b) and Knight and Wymer (1978). Jonson has continued this work at the Reserve Bank of Australia, where he has been rsponsible fot the development of the RBA model of Australia.
Place, publisher, year, edition, pages
Stockholm: IIES , 1982. , 26 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 202
IdentifiersURN: urn:nbn:se:su:diva-41431OAI: oai:DiVA.org:su-41431DiVA: diva2:330302
Published in connection with a visit at the IIES2010-07-152010-07-152010-07-15