MAKRO Model Documentation

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Abstract

This is a preliminary draft of the model documentation for MAKRO. We are working on final details and the documentation will be updated with these before the release of the beta-version of the model. This documentation is supplemented by a paper containing an overview of the model, a paper describing the empirical foundation of the model and a paper showing impulse-responses of the model and comparing them to the empirical impulse-responses of estimated vector autoregressive models. As background for the empirical foundation there is a series of econometric working papers, some of which are publicly available and can be downloaded from our homepage. All mentioned documentation will be available in our homepage prior to a seminar where the beta version of the model will be released, and which is scheduled to take place in the 4th quarter of 2021.