The TRACE econometric model of the Canadian economy /
The TRACE econometric model of the Canadian economy /
- [Toronto] : University of Toronto Press , c[1972]
- x, 166 p. :ill,
- Studies in social and economic policy, .
Bibliography: p. [162]-166.
The model described in this book is one of many large-scale macroeconometric models being produced nowadays under the combined stimuli of the pioneering work of L. R. Klein and others, the availability of substantial research funds and access to electronic computing facilities. Features of this particular model include its use of annual, rather than quarterly, data, pre-war as well as post-war, for estimating many of its equations. The model uses both constant and current prices, and purports to explain price changes.The export sector is heavily disaggregated, both by commodity and by destination. The close economic and financial relationship between Canada and the United States is taken account of, as is the long period of floating exchange rates. (An interesting conclusion is that fiscal and monetary policies are much more effective with floating than with fixed rates.) The principal purpose of the model is to provide a basis for public forecasts of important economic magnitudes, with different forecasts dependent on different government policies, hence allowing recommendations about possible policies.
0802018068 0802001254 (microfiche)
Canada
HC115 / .T72
339.0971 / TRA
Bibliography: p. [162]-166.
The model described in this book is one of many large-scale macroeconometric models being produced nowadays under the combined stimuli of the pioneering work of L. R. Klein and others, the availability of substantial research funds and access to electronic computing facilities. Features of this particular model include its use of annual, rather than quarterly, data, pre-war as well as post-war, for estimating many of its equations. The model uses both constant and current prices, and purports to explain price changes.The export sector is heavily disaggregated, both by commodity and by destination. The close economic and financial relationship between Canada and the United States is taken account of, as is the long period of floating exchange rates. (An interesting conclusion is that fiscal and monetary policies are much more effective with floating than with fixed rates.) The principal purpose of the model is to provide a basis for public forecasts of important economic magnitudes, with different forecasts dependent on different government policies, hence allowing recommendations about possible policies.
0802018068 0802001254 (microfiche)
Canada
HC115 / .T72
339.0971 / TRA