Abstract
Language | English |
---|---|
Pages | 31-40 |
Number of pages | 10 |
Journal | Quarterly Economic Commentary |
Volume | 5 |
Issue number | 2 |
Publication status | Published - Oct 1979 |
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Keywords
- econometric model
- Scotland
- Scottish economy
- employment modelling
- input/output model
- macro-economic model
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A medium term model for Scotland. / McGilvray, James W.; Bell, David N.F. (Editor).
In: Quarterly Economic Commentary, Vol. 5, No. 2, 10.1979, p. 31-40.Research output: Contribution to journal › Article
TY - JOUR
T1 - A medium term model for Scotland
AU - McGilvray, James W.
A2 - Bell, David N.F.
PY - 1979/10
Y1 - 1979/10
N2 - The model which is outlined in rather general terms in this paper forms the central core of the Fraser Institute's research programme for the next three years. The model itself is an extension and development of research carried out in the Institute over the past four years, and a synthesis of much of the current work being undertaken. Although many of the equations of the model will be estimated econometrically, or will be based on observed data such as input/output tables or occupation-industry matrices, both gaps in data and gaps in our understanding of the determinants of medium and long-term changes in the economy imply a simulation rather than a forecasting model. Nonetheless it is to be hoped that the time paths of the Scottish economy simulated by the model will offer a plausible guide to the actual development of the economy during the next decade and beyond.
AB - The model which is outlined in rather general terms in this paper forms the central core of the Fraser Institute's research programme for the next three years. The model itself is an extension and development of research carried out in the Institute over the past four years, and a synthesis of much of the current work being undertaken. Although many of the equations of the model will be estimated econometrically, or will be based on observed data such as input/output tables or occupation-industry matrices, both gaps in data and gaps in our understanding of the determinants of medium and long-term changes in the economy imply a simulation rather than a forecasting model. Nonetheless it is to be hoped that the time paths of the Scottish economy simulated by the model will offer a plausible guide to the actual development of the economy during the next decade and beyond.
KW - econometric model
KW - Scotland
KW - Scottish economy
KW - employment modelling
KW - input/output model
KW - macro-economic model
UR - http://www.strath.ac.uk/frasercommentary/
UR - http://www.strath.ac.uk/fraser/
M3 - Article
VL - 5
SP - 31
EP - 40
JO - Fraser of Allander Economic Commentary
T2 - Fraser of Allander Economic Commentary
JF - Fraser of Allander Economic Commentary
SN - 2046-5378
IS - 2
ER -