Macroeconometric model for Slovecia

Authors

  • KLAUS WEYERSTRASS Institute for Advanced Studies Klagenfurt University, Austria
  • REINHARD NECK Institute for Advanced Studies Klagenfurt University, Austria

Keywords:

simulation and optimization experiments, policy analysis, econometric methodology

Abstract

  Slovenia entered the European Union in 2004 and was the first country of the ten new members to enter the Euro Area in 2007. As Slovenia was part of Communist Yugoslavia until 1991, the economic history of this country to some extent started after that date. This provides difficulties for attempts to discover empirical regularities to be exploited for forecasting and policy analysis. Nevertheless, in this paper, we describe a macroeconometric model for Slovenia, called SLOPOL6. It was estimated using most recent quarterly data and rests on up-to-date econometric methodology, including stationarity and cointegration analysis. The model has already been used successfully for simulations of alternative monetary and fiscal policy measures[1].[1] Paper presented at the Annual International Conference in Economics, Informatics and Communications Field, Spiru Haret University, Campulung Muscel, 21-22 May 2010.

References

• Hendry D. (1995), Dynamic Econometrics. Oxford: Oxford University Press.

• Neck R., K. Weyerstrass G. Haber (2004), Policy Recommendations for Slovenia: A Quantitative Economic [3]. Policy Approach; in: Böhm B., Frisch H., Steiner M. (eds.), Slovenia and Austria: Bilateral Economic Effects of Slovenian EU Accession, Graz: Leykam, 249–271.

• Weyerstrass K., G. Haber, R. Neck (2001), SLOPOL1: A Macroeconomic Model for Slovenia. International Advances in Economic Research 7 (1), 20–37.

• Weyerstrass K., R. Neck (2007a), A New EU Country on the Road to the Euro Area: Monetary and Fiscal Policies for Slovenia. To appear in Atlantic Economic Journal.

• Weyerstrass K., R. Neck (2007b), Macroeconomic Effects of Slovenia’s Integration in the Euro Area. Discussion Paper, University of Klagenfurt, Klagenfurt.

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Published

2010-06-30

How to Cite

WEYERSTRASS, K., & NECK, R. (2010). Macroeconometric model for Slovecia. Annals of Spiru Haret University. Economic Series, 10(2), 191–206. Retrieved from https://anale.spiruharet.ro/economics/article/view/10222

Issue

Vol. 10 No. 2 (2010)

Section

ACADEMIA PAPERS

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