M o d e l e a s y +  
 

Performance For the Future

  
 

 
   

Modeleasy+ Capabilities

Modeleasy+ is the complete and powerful analysis tool.

 

The strength of the Modeleasy+ system is in its ability to construct and analyze econometric models through the use of its simulation and estimation facilities.  However, Modeleasy+ provides many additional capabilities giving the user a highly developed and comprehensive toolset. The Modeleasy+ system provides complete modeling capabilities,  data handling capabilities, and  reporting capabilities. The availability of all these tools in a single, modeling environment provides the economist with a set of extraordinarily powerful analysis tools.
Modeling Capabilities

Modeleasy+ provides extraordinary performance and flexibility in a language familiar to economists.

The modeling-specific part of the Modeleasy+ environment consists of basically two major components--the Model Description Language and the Model Processing Language. 

The Modeleasy+ Model Description Language is

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Syntax that uses words that are already known to economists, greatly reducing the learning curve. 

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Ability to save a model produced in a file allowing unlimited reuse and to apply different analysis tools without any change to the model itself.

The Modeleasy+ Model Processing Language is the set of operations which operate on the model and which gives Modeleasy+ simulation unparalleled performance, on all platforms.  It features:  

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A large number of estimation techniques and advanced simulation capabilities. 

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Auxiliary routines which allow the user to have great control over the way that the analysis tools are applied to the model. 

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Simulation tools that act on the model to reorder the equations.  This minimizes the number of iterations and writes the model in executable format. 

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Data Handling Capabilities

Modeleasy+ provides the economist with advanced numerical capabilities for pre- and post-processing the data used by a model.

Modeleasy+ is able to provide its advanced capabilities by being completely integrated with the Speakeasy® software package. The time series and numerical analysis tools of the integrated Modeleasy+/Speakeasy software gives the user access to a vocabulary of more than 1000 words! The ease of use of these tools is unprecedented in such an advanced software package.

Modeleasy+ can easily exchange data with spreadsheets such as Excel and Quattro Pro. This provides the means of getting data into Modeleasy+ from software you may already be using. Data can also be obtained from a FAME database using the Fame interface provided with the Professional and Corporate versions of Modeleasy+. In addition, data can also be easily exchanged with the TRAMO/SEATS programs and the B34S® program for additional analysis.

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Reporting Capabilities

Modeleasy+ offers powerful reporting abilities to view results in several ways. 

Perhaps the most powerful reporting method is that of graphical output, particularly when analyzing large models containing large amounts of data. Modeleasy+ uses the powerful graphics contained in the integrated Speakeasy software. This graphics package allows the user to view on-screen graphics, send the graphs to a printer, or save the graphs in a file in many formats, including Postscript. The user can tailor the appearance of the graph, axis labels, color, type of graph, etc., using the large number of tools available.

A journal of the user's Modeleasy+ session may be saved in an editable file. The journal will contain all of the user's input as well as the output from Modeleasy+ and provides a valuable history of the analysis process.

The tools of Modeleasy+ provide the user with methods to produce tables of results. These tables can be written into the journal file, saved as individual tables, or written to printers. The user has great control over the appearance of these tables. The tables may be horizontal or vertical, bordered or with no borders, etc. There is a set of tools which allows the tables to be written in a Postscript file, suitable for inclusion in reports.

 

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Simulation Capabilities Modeleasy+ provides a wide variety of powerful model solution tools, allowing advanced analysis to be easily formulated.

Linear or Non-linear Models

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Modeleasy+ can solve models which may be linear or non-linear in the coefficients or variables. Forward looking or rational expectations models are also capable of being solved by Modeleasy+.

Simulation Algorithms

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The efficiency of the simulation algorithm is greatly enhanced by the presence of an equation reordering routine which groups the equations into pre-recursive, post-recursive and simultaneous groups. The default simulation algorithm uses the Gauss-Seidel technique on the simultaneous part of the model. The Newton-Raphson technique is also available to improve convergence properties. The Jacobi method is also available to the user.

Econometric Tools

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Modeleasy+ also provides operations which use simulation techniques to perform the following econometric tasks.

bulletCalculation of Coefficient Sensitivities
bulletState-space Linearization of the Model
bulletStructural-form Linearization of the Model
bulletStochastic Simulation
bulletOptimal Control

These powerful tools provide the economist with an unparalleled method of model solution.

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Estimation Capabilities Modeleasy+ provides the economist with powerful analysis tools for estimating the equation coefficients in a model. 

 The Modeleasy+ estimation algorithms include:

Ordinary Least Squares (OLS)

Generalized Least Squares (GLS)

Two Stage Least Squares (2SLS)

Three Stage Least Squares (3SLS)

K-class Instrumental Variables (K-class)

Limited Information Maximum Likelihood (LIML)

Limited Information Instrumental Variable Efficient (LIVE)

These estimation algorithms are available through the use of the ESTIMATE command.

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Testing  Capabilities

The Modeleasy+ statistical and diagnostic tests allow the economists to easily judge the validity of model results and quality of the estimation.

Standard statistical tests

bulletNumerous statistical tests are available to help the economist judge the quality of the estimation process. Some of the standard tests are
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R-Squared

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Durbin-Watson Statistic

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Standard Error of Regression

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Log of the Likelihood Function

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F-Statistic

Diagnostic tests

bulletIn addition to these tests, there is a suite of diagnostic tests which can be used to assess the suitability of the model. Some of these tests are
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Restriction Test

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Common Factor Test

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Polynomical Distributed Lag Restriction Test

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Normality Test

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Lagrange Multiplier Test

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Durbin h Test

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Ljung-Box Test

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ARCH Test

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Breusch-Pagan Test

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Structural Stability Chow Tests

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Structural Stability Forward/Backward Recursive Tests

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Functional Form Tests

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Multicolinearity Analysis

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Cointegration Analysis (augmented Dickey-Fuller)

The tests in this comprehensive set provide the economist with powerful insights into the validity of the model and the quality of the coefficient estimation.

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