This is a simplified annual version of the Kyoto University Quarterly Macroeconometric Model (KYQ) for the Japanese economy for the purpose of linkage in the Asian Link System. The KYQ model is a quarterly model developed at the Institute of Economic Research, Kyoto University. It has been used for the short-term forecast as well as policy simulations. The latest version (Moriguchi 1983, Moriguchi and Tang 1983, etc.) consists of 173 equations for the real sector and 17 equations for the financial sector and covers the various aspects of Japanese economy. The model presented here, however, is based on the February 1979 version of the KYQ model (Moriguchi 1979) due to its relative simplicity compared to the latest version. Most of the models for East and Southeast Asian countries in the Asian Link System are annual models and not large in size. We have, therefore, constructed an annual model of medium size which follows closely the basic structure of the KYQ model in 1979.
KeywordsRoot Mean Square Error Consumer Price Index Wage Equation Phillips Curve Annual Model
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