{"id":443,"date":"1988-10-01T04:14:26","date_gmt":"1988-10-01T04:14:26","guid":{"rendered":"http:\/\/www.tmsdesarrolladores.com\/pedropalma\/?p=443"},"modified":"2016-02-23T01:51:08","modified_gmt":"2016-02-23T01:51:08","slug":"a-comparative-sensitivity-analysis-of-the-modven-vii-macroeconomic-model-for-venezuela","status":"publish","type":"post","link":"https:\/\/pedroapalma.com\/site\/a-comparative-sensitivity-analysis-of-the-modven-vii-macroeconomic-model-for-venezuela\/","title":{"rendered":"A comparative sensitivity analysis of the MODVEN VII macroeconomic model for Venezuela"},"content":{"rendered":"<p><span style=\"font-size: 13.0pt; font-family: 'Arial',sans-serif; color: #333333;\">Palma, Pedro A., Fontiveros, Domingo <em><span style=\"font-family: 'Arial',sans-serif;\">A comparative sensitivity analysis of the MODVEN VII macroeconomic model for Venezuela. <\/span><\/em><strong><span style=\"font-family: 'Arial',sans-serif;\">Economic Modelling<\/span><\/strong>, Vol. 5, Number 4, October 1988. Pp. 286-346.<\/span><\/p>\n<p><span style=\"font-size: 11.0pt; font-family: 'Arial',sans-serif; color: #333333;\">\u00a0<\/span><\/p>\n<p><span style=\"font-size: 11.0pt; font-family: 'Arial',sans-serif; color: #333333;\">In the first section of the paper the authors present the structure and main features<br \/>\nof the macroeconometric model for Venezuela, MODVEN VII, specifying the blocks<br \/>\nof equations and their most relevant characteristics. The second part of the paper<br \/>\ncontains a sensitivity analysis of the model. That was done by analysing the results<br \/>\nof eight alternative economic policy simulations, which were also compared with the<br \/>\nresults of similar exercises made with econometric models of seven other countries.<br \/>\nThese simulations served as the basis for analysis at the Conference on Performance<br \/>\nof Econometric Models of NICs and Developing Countries, held in Taipei, Taiwan<br \/>\nin May 1987. As a result of this comparison some conclusions are drawn about the<br \/>\nmodel&#8217;s sensitivity to different economic policy shocks. In this comparative analysis<br \/>\nspecial emphasis is laid on the behaviour and performance of the Venezuelan model.<br \/>\nFinally, changes in the specifications of some equations are introduced in the model<br \/>\nin order to improve its response capacity. The eight simulations were rerun with the<br \/>\nmodified model and the results were compared with those of the original exercises. Some<br \/>\nsuggestions about future improvements of the model are presented in the conclusions<br \/>\nof the paper. A detailed list of the equations of the model and the description of its<br \/>\nvariables are included in an appendix.<\/span><\/p>\n<p>Imagen: Monash.edu<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Palma, Pedro A., Fontiveros, Domingo A comparative sensitivity analysis of the MODVEN VII macroeconomic model for Venezuela. Economic Modelling, Vol. 5, Number 4, October 1988. Pp. 286-346. \u00a0 In the first section of the paper the authors present the structure and main features of the macroeconometric model for Venezuela, MODVEN VII, specifying the blocks of &hellip;<\/p>\n","protected":false},"author":2,"featured_media":484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,7],"tags":[59,54,60],"class_list":["post-443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academicos","category-trabajos-y-papers","tag-macroeconomic-model","tag-modven","tag-venezuelan-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A comparative sensitivity analysis of the MODVEN VII macroeconomic model for Venezuela - Pedro A. 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