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Performance For the Future

 
 

 

   


Model Description Language

Keyword Examples

The Modeleasy+ MDL is keyword driven

The Model Description Language of Modeleasy+ is keyword driven, i.e., a line in a model has the general form

    key_word> argument(s)

where the keywords are used to describe equation types, the form of the actual equation, an endogenous variable in an equation, any coefficients in an equation, where results from an estimation are to be saved, or the input to a simulation is to be retrieved, among others.

Equation Type

The equation type, behavioral, identity, or instrument is described using one of the keywords

     BEHAVORIAL>,      IDENTITY>,     INSTRUMENT>

followed by the equation name. Coefficients in a behavioral equation are identified by using the keyword COEFF> followed by a list of their names. If a specific variable in an equation is to be specified as an endogenous variable, then they keyword ENDOGENOUS> followed by the name of the variable may be used.

The actual form of the equation is specified by using the keyword EQ> as shown in the example below.

     EQ> Y = C1 + C2*X2 + C3*LAG(X3,3) + C4*LEAD(X4,5) +...

where Y is the endogenous variable (by default), C1, C2, C3, C4,... are coefficients, and X2, X3, X4, ... are exogenous variables.

Equation Form Keywords can also be used to place restrictions on coefficients for estimation purposes (keyword RESTRICTION> ), or to insert distributed lags into an equation (keywords PDL> or SHIL> ), or to specify a variable in an equation as an instrumental variable (keyword INVAR> ).
Block Keywords The keywords BLOCK> and BLOCKEND> can be used to group equations together for processing purposes.  The keyword BLOCKRESTRICTION> can be used to specify restrictions that apply to an entire block of equations and the keyword BLOCKINVAR> can be used to specify an instrumental variable in the entire block of equations.
 

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