Analytical Solutions
Posted: Thu Jan 17, 2013 1:08 am
Hi again,
I am working with a research team interested in Stock-Flow Consistent (SFC) modeling, which consists of simulation exercises based on systems of equations which respect an accounting framework. Most of the members in the team make their models using EViews, but not everybody knows how to program.
Some doubts have come up concerning the capabilities of EViews concerning analytical problem solving and how this could be overcome. Going through the Command and Programming Reference, I did not come across any analytical solving command (perhaps I just didn’t look well enough). Could you please let me know if this is the case?
In any case, people in the team have different objectives and different ways to tackle problems (some use other software), but my feeling is that, in order to make models more coherent to any national case, we must estimate parameters, then use these in a system of equations we build based on economic theory and see what it gives. Up to now (and to my knowledge), SFC models have not used estimated parameters.
My goal is to build a model which estimates parameters (via cointegrated VAR or even SVAR models), insert them automatically in a SFC model, solves and shows different scenarios given predetermined shocks. Could you give me some advice as to what we can do using EViews? I saw a paper where they propose a calibrating method, but this implies a priori solving by hand, running a first model to calibrate, then used calibrated parameters in the model… Is there a command (or way) that keeps us from solving manually?
Thanks in advance.
I am working with a research team interested in Stock-Flow Consistent (SFC) modeling, which consists of simulation exercises based on systems of equations which respect an accounting framework. Most of the members in the team make their models using EViews, but not everybody knows how to program.
Some doubts have come up concerning the capabilities of EViews concerning analytical problem solving and how this could be overcome. Going through the Command and Programming Reference, I did not come across any analytical solving command (perhaps I just didn’t look well enough). Could you please let me know if this is the case?
In any case, people in the team have different objectives and different ways to tackle problems (some use other software), but my feeling is that, in order to make models more coherent to any national case, we must estimate parameters, then use these in a system of equations we build based on economic theory and see what it gives. Up to now (and to my knowledge), SFC models have not used estimated parameters.
My goal is to build a model which estimates parameters (via cointegrated VAR or even SVAR models), insert them automatically in a SFC model, solves and shows different scenarios given predetermined shocks. Could you give me some advice as to what we can do using EViews? I saw a paper where they propose a calibrating method, but this implies a priori solving by hand, running a first model to calibrate, then used calibrated parameters in the model… Is there a command (or way) that keeps us from solving manually?
Thanks in advance.
book.