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| This paper describes the IWH macroeconometric model a quarterly structural model for the German Economy. It focuses on the specification and estimation on supply-side aspects of the model. This approach guarantees a theoretical derived long-run model equilibrium. It combines short-run forecasting requirements with a long-run theoretical foundation. For some macroeconomic aggregates short- and long-run effects of supply- and demand shocks are illustrated. Additionally effects of external shocks are investigated through model simulations to illustrate aggregate model characteristics. -- Macroeconometric model ; German economy ; Policy simulations |
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