QUEST II. A Multi-Country Business Cycle and Growth Model



7$%/( $     32578*$/


,QFUHDVH rI Lq 0RQH\ 7DUJHW


Year:

1

2

3

TOTAL.GDP %

0.51

0.26

0.

POT.PRIV.GDP %

0.16

0.09

0.

PRIV.CONS %

0.40

0.15

0.

PRIV.INV %

1.94

0.90

0.

TOT.PUBL.EXP %

0.34

0.30

0.

EXPORTS %

0.41

0.20

0.

IMPORTS %

0.76

0.35

0.

EMPLOYMENT %

0.15

0.06

0.

REAL.WAGE.COSTS %

0.22

0.35

0.

PRICE.LEVEL %

0.49

0.74

0.

CONS.PRICE.LEVEL %

0.50

0.72

0.

DOLLAR.EXCH.RATE %

0.66

0.82

0.

DM.EXCH.RATE %

0.14

0.07

0.

REAL.EXCH.RATE %

0.17

0.08

0.

REAL.EFF.EXCH.RATE %

0.00

-0.03

-0.

MONEY %

1.01

1.00

1.

SHORT.RATE

0.18

0.13

0.

LONG.RATE

0.01

0.01

0.

REAL.SHORT.RATE

-0.10

-0.03

-0.

INFLATION

0.50

0.25

0.

UNEMPL.RATE

-0.14

-0.05

-0.

DEBT.TO.GDP

-0.08

0.03

0.

DEFG.TO.GDP

0.55

-0.01

-0.

TRADE.BAL.TO.GDP

-0.23

-0.08

-0.


,QFUHDVH Lq *RYHUQPHQW

3XUFKDVHV

Year:

1

2

3

TOTAL.GDP %

0.29

0.09

0.

POT.PRIV.GDP %

0.11

0.06

0.

PRIV.CONS %

-0.16

-0.39

-0.

PRIV.INV %

0.40

-0.13

-0.

TOT.PUBL.EXP %

4.80

4.66

4.

EXPORTS %

-0.06

-0.10

-0.

IMPORTS %

1.12

0.88

0.

EMPLOYMENT %

0.12

0.06

0.

REAL.WAGE.COSTS %

0.07

0.11

0.

PRICE.LEVEL %

0.29

0.33

0.

CONS.PRICE.LEVEL %

0.12

0.13

0.

DOLLAR.EXCH.RATE %

-0.01

-0.01

-0.

REAL.EXCH.RATE %

-0.30

-0.34

-0.

REAL.EFF.EXCH.RATE %

-0.29

-0.33

-0.

MONEY %

0.56

0.38

0.

SHORT.RATE

0.00

0.00

0.

LONG.RATE

0.00

0.00

0.

REAL.SHORT.RATE

-0.06

-0.01

0.

INFLATION

0.29

0.04

0.

UNEMPL.RATE

-0.11

-0.06

-0.

DEBT.TO.GDP

0.35

1.52

2.

DEFG.TO.GDP

1.05

1.12

1.

TRADE.BAL.TO.GDP

Note: see Table A.1.

-0.57

-0.48

-0.


4

5

6

7

8

9

10

0.08

0.05

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.06

0.04

0.03

0.03

0.02

0.01

0.01

0.22

0.12

0.07

0.04

0.03

0.03

0.03

0.08

0.05

0.05

0.04

0.04

0.04

0.04

0.07

0.05

0.04

0.03

0.03

0.03

0.03

0.12

0.07

0.05

0.04

0.03

0.02

0.01

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.09

0.06

0.05

0.04

0.04

0.04

0.04

0.92

0.94

0.95

0.96

0.96

0.96

0.96

0.91

0.94

0.95

0.96

0.96

0.97

0.97

0.96

0.98

0.99

0.99

0.99

0.99

0.99

0.01

-0.01

-0.02

-0.02

-0.02

-0.02

-0.01

0.04

0.04

0.03

0.03

0.03

0.03

0.03

-0.02

-0.01

-0.01

0.00

0.01

0.01

0.01

1.00

1.00

1.00

1.00

1.00

1.00

1.00

0.03

0.01

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.05

0.02

0.01

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.01

0.01

0.01

0.00

0.00

0.00

0.00

-0.01

-0.01

0.00

0.00

0.00

0.00

0.00

-0.02

-0.01

0.00

0.00

0.01

0.01

0.01


RI

*'3

4

5

6

7

8

9

10

0.02

0.02

0.02

0.01

0.00

-0.02

-0.04

0.03

0.03

0.03

0.02

0.01

-0.01

-0.03

-0.39

-0.36

-0.35

-0.34

-0.34

-0.34

-0.34

-0.28

-0.28

-0.44

-0.66

-0.90

-1.17

-1.46

4.72

4.82

4.81

4.76

4.71

4.65

4.58

-0.10

-0.09

-0.09

-0.09

-0.09

-0.08

-0.08

0.82

0.82

0.79

0.74

0.68

0.62

0.55

0.03

0.03

0.03

0.03

0.03

0.03

0.03

-0.01

-0.01

-0.01

-0.01

-0.03

-0.04

-0.08

0.31

0.30

0.29

0.28

0.27

0.27

0.26

0.12

0.10

0.10

0.10

0.10

0.10

0.10

-0.01

-0.01

-0.01

-0.01

-0.01

-0.01

-0.01

-0.32

-0.31

-0.29

-0.29

-0.28

-0.27

-0.27

-0.31

-0.29

-0.28

-0.28

-0.27

-0.26

-0.26

0.29

0.28

0.27

0.26

0.24

0.22

0.19

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.02

0.01

0.01

0.01

0.01

0.01

0.02

-0.01

-0.02

-0.01

-0.01

-0.01

-0.01

-0.01

-0.03

-0.03

-0.03

-0.03

-0.03

-0.03

-0.03

3.68

4.71

5.82

6.91

8.01

9.12

10.23

1.17

1.18

1.20

1.23

1.26

1.28

1.31

-0.50

-0.52

-0.49

-0.45

-0.41

-0.37

-0.32


46




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