Bank of Israel develops new forecasting model
A Bank of Israel paper published on Wednesday develops an economic model to examine macroeconomic scenarios using quarterly data.
Amit Friedman and Zvi Hercowitz, the paper's authors, design a model to perform quarterly macroeconomic forecasts and fiscal policy experiments. The model is neoclassical in nature, but with some non-standard features such as a liquidity effect on nondurable consumption and on durable goods purchases.
Friedman and Hercowitz say the model will help in the preparation
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