The behavioural characteristics of the model-80 model of the Irish economy
FitzGerald, John D.
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Citation:Fitzgerald, John D. and Keegan, Owen. 'The behavioural characteristics of the model-80 model of the Irish economy'. - Dublin: Journal of the Statistical and Social Inquiry Society of Ireland,Vol. XXIV, Part IV, 1981/1982, pp41-84
For as long as governments have had the inclination or capability to influence economic events they have based their policies on their beliefs and prejudices as to how the economy works. These beliefs and prejudices constitute, de facto, a model of the economy. Similarly, while they may not admit it, businessmen have, for centuries, carried an incipient economic model around in their heads. Anyone who is interested in forecasting the future either with a view to altering the likely course of economic events, or accommodating their own activities to that likely course, has to form views on how the economy works. However, it is only really in the last thirty years that economists have begun to formalise these prejudices or views into a quantitative framework.
Large scale macroeconomic models
Central Bank of Ireland
Publisher:Statistical and Social Inquiry Society of Ireland
Series/Report no:Journal of The Statistical and Social Inquiry Society of Ireland
Vol. XXIV, Part IV, 1981/1982
Description:Read before the Society, 11 February 1982
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