The NIME model: international projections and analyses
The NIME model is a world macroeconometric model that has been developed by the Federal Planning Bureau. The model is regularly used to produce medium-term outlooks for the world economy and to analyse the transmission mechanisms of economic policies and exogenous shocks.
In the current version of the NIME model, the world is divided into six blocs: the euro area, the western EU Member States outside the euro area, the new EU Member States outside the euro area, the United States, Japan and a bloc representing the rest of the world. All these blocs are linked together by trade and financial flows. The data for the euro area are expressed in ecus/euros. The data concerning the western and new Member States are expressed in synthetic currency and exchange units.
In all of these blocs but two - the new EU Member States and the rest of the world - a representative household sector, an enterprise sector, a government sector and a monetary sector are modelled. A similar set of behavioural equations and accounting identities is specified for each of the blocs; the parameter values of the equations are obtained using econometric techniques applied to the aggregated, annual data of the different blocs.
