Eugenrev00278-0023.pdf - Dropbox. Econfaculty.gmu.edu/bcaplan/pdfs/whyimmigration.pdf. EC - Economic Research. ECB - Economic Research. Macroeconomic models of the euro area The New-Area-Wide Model (NAWM) is a micro-founded open-economy model of the euro area, which is designed for use in the (Broad) Macroeconomic Projection Exercises regularly undertaken by ECB/Eurosystem staff and for policy analysis.
It was recently developed by staff in the Econometric Modelling Division. The NAWM succeeds the AWM which is a traditional macroeconomic model of the euro area that has been extensively used at the ECB over the past ten years. There are notable differences between the two models. The NAWM is neo-classical in nature and centred around intertemporal decisions of households and firms which are maximising expected life-time utility and the expected stream of profits, respectively. Therefore the key features of the model are: Its scale - compared with a typical DSGE model - is relatively large.
The New Multi-Country Model is a large-scale estimated model covering the five largest euro area countries. Key features of the model. #PDFTribute list of documents. Writing tips for Ph. D. Students. Portugal - Rethinking the State. The Chicago Plan Revisited.