Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174286
Authors: 
Bergin, Adele
Conroy, Niall
Rodriguez, Abian Garcia
Holland, Dawn
McInerney, Niall
Morgenroth, Edgar L. W.
Smith, Donal
Year of Publication: 
2017
Series/Report no.: 
ESRI Working Paper 553
Abstract: 
COSMO is a new structural econometric model of the Irish economy, with a theoretically founded structure and specification. It is designed to be used for medium-term economic projections and policy analysis. This paper outlines the key mechanisms in the model and explores the behaviour of the model by examining a range of shocks. One of the key contributions of COSMO is the incorporation of financial frictions in a small open economy model. The behavioural equations in COSMO are estimated econometrically, and the second contribution of the model relates to how all available information at both annual and quarterly frequency is exploited in estimation, applying a novel technique to convert dynamics estimated at one frequency into the other.
Subjects: 
Macro-econometric model
frequency conversion
model simulations
macroprudential policy
JEL: 
C32
C50
C53
E17
E44
Document Type: 
Working Paper

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