Pensim2
Pensim2 is a dynamic microsimulation model to simulate the income of pensioners, owned by the British Department for Work and Pensions. Pensim2 is the second version of Pensim which was developed by I
Gravity model of trade
The gravity model of international trade in international economics is a model that, in its traditional form, predicts bilateral trade flows based on the economic sizes and distance between two units.
Benefit financing model
The Benefit Financing Model (BFM), also known as Unemployment Insurance Benefit Financing Model (UIBFM), is an actuarial forecasting model designed to help analysts project the condition of Unemployme
Policy Simulation Model
The Policy Simulation Model (PSM) is a static microsimulation model which encapsulates the tax and benefits system, and population, of Great Britain. It is based on survey data from the Family Resourc
Large-scale macroeconometric model
Following the development of Keynesian economics, applied economics began developing forecasting models based on economic data including national income and product accounting data. In contrast with t
Predetermined variables
Predetermined variables are variables that were determined prior to the current period. In econometric models this implies that the current period error term is uncorrelated with current and lagged va
Endogeneity (econometrics)
In econometrics, endogeneity broadly refers to situations in which an explanatory variable is correlated with the error term. The distinction between endogenous and exogenous variables originated in s
Econometric model
Econometric models are statistical models used in econometrics. An econometric model specifies the statistical relationship that is believed to hold between the various economic quantities pertaining
Error correction model
An error correction model (ECM) belongs to a category of multiple time series models most commonly used for data where the underlying variables have a long-run common stochastic trend, also known as c
Fisher market
Fisher market is an economic model attributed to Irving Fisher. It has the following ingredients:
* A set of divisible products with pre-specified supplies (usually normalized such that the supply of
Klein–Goldberger model
The Klein–Goldberger model was an early macroeconometric model for the United States developed by Lawrence Klein and Arthur Goldberger, Klein's doctoral student at the University of Michigan, in 1955.
Fixed-effect Poisson model
In statistics, fixed-effect Poisson models are used for static panel data when the outcome variable is count data. Hausman, Hall, and Griliches pioneered the method in the mid 1980s. Their outcome of
Oxford model
The Oxford Model or the Oxford Econometric Model was created by Lawrence Klein and Sir James Ball. It included a Phillips-type relation and led to an "explosion" of macroeconometric forecasting.
Rubin causal model
The Rubin causal model (RCM), also known as the Neyman–Rubin causal model, is an approach to the statistical analysis of cause and effect based on the framework of potential outcomes, named after Dona