A Structural Model of Singapore for Asian Link
This paper presents a basic econometric model of the Singaporean economy.2 The model is designed for incorporation in a multi-country model such as the ASIAN LINK (Ichimura and Ezaki, 1985). The paper begins with a brief overview of the Singaporean ecomomy (section 2). Model specification is then described (section 3) and seven historical simulation experiments are presented to illustrate how the Singaporean economy responds to various shocks, both external and internal (section 4). In the concluding section, a summary of remaining tasks for integration of this model into a system such as ASIAN LINK is presented.
KeywordsDirect Foreign Investment Real Wage Private Investment Disposable Income Import Price
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