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| 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.
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| 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.
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| 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.
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| 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. |
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| 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. |
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| Examples |
Click
here to see examples of the Model
Description Language. |
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Back to the Modeleasy+
Description Page |
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