| Abstract: | Summary This paper reports the results of further tests performed with a slightly changed version of the Econometric Model of the Austrian Economy's Monetary Sector.Analysis of the model's structure showed that under dynamic conditions the system is recursive, whilst under steady state the model contains a few simultaneous relations. The model ist stable, as its reaction to a shock in one of its most important exogenous variables demonstrates. It approaches a growth equilibrium within a reasonable period of time when the exogenous variables grow at constant rates. The stochastic properties of the model are quite satisfactory, too. Deterministic and mean stochastic solutions for the endogenous variables do not differ very much from each other. |
