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The Model Description Language

The MDL is your interface to the powerful computational engine of Modeleasy+.

Ease of use With Modeleasy+ there is absolutely no need to learn a new language! 

The MDL of Modeleasy+ is easily learned since it uses terms and functions already familiar to economists.  You can begin writing  models immediately. Even forward-looking models are easily implemented by simply using the LEAD operator.

Unlimited models The MDL supports not only single equations, but also allows equations to be grouped for analysis purposes. 

Behavioral equations, technical identities, and instrumental equations are fully supported by the MDL. There is no limit to the number of terms an equation may have and there is no limit to the number of equations a model may have.

Equation functions The MDL of Modeleasy+ allows standard functions, e.g., SINE and LOG, as well as time series functions, e.g., LAG, LEAD and MAVE, to be used naturally in an equation.  

Almon and Shiller distributed lags can be included in an equation by the simple use of a keyword. Both deterministic and stochastic restrictions on equation coefficients are also fully supported. Error terms can also be easily introduced into a model equation.

Instrumental variables Instrumental variables are easily introduced and used within the context of the MDL of Modeleasy+. 

It is simply a matter of defining the instrument through its equation and then connecting that instrument to a particular equation's variable using an equation keyword.

MDL Syntax

A model is a collection of descriptive statements written in the Modeleasy Description Language (MDL). The MDL is keyword-driven and each statement has the general form:

key_word> descriptive_text

where the keyword is one of the attributes of the model (equation type, equation specification, variable list, coefficient list, etc.) and the descriptive text specifies the detail of that attribute.

Examples Click here to see examples of the Model Description Language.

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