Latvia's Macroeconomic Model
2/2006
Abstract
The paper presents the first version of Latvia's Macroeconomic Model (LMM) built using the features and structure of an Area-Wide Model (AWM) for the euro area and Multi-Country Model (MCM) for a typical country block of the European System of Central Banks. This is one of the first attempts to create an econometric model that captures the Latvian economy as a whole and simultaneously modells the supply and demand sides, price and fiscal blocks, and the external sector.
Key words: macroeconomic model, Latvia
JEL classification codes: C3, C5, E12, E17
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