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- W162435568 abstract "Publisher Summary This chapter presents an overview of the structure and properties of the BOF4model, a quarterly econometric model developed and used at the Bank of Finland. The purpose of the model is to serve as an aid to short- and medium-term forecasting and policy analysis. As a research effort, the model provides a basis for accumulating applied econometric results, which otherwise might remain isolated and not appropriately utilized. The performance of the model is a kind of test for the main stream macroeconomic paradigm that has been employed in the construction of BOF4. One of the outstanding features of the model is that its structure follows rather closely—notwithstanding certain extensions and attempts to disaggregate further—the standard open economy version of the IS − LM − AS model, widely used in applied economic analysis. The chapter discusses the relation of the BOF4 model to this analytical framework mainly with the help of a simplified, theoretical prototype version of the model." @default.
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- W162435568 date "2010-02-20" @default.
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- W162435568 title "The structure and foundations of the BOF4 model" @default.
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- W162435568 doi "https://doi.org/10.1108/s0573-8555(1992)0000210008" @default.
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