1970–1999

A Micro-to-Macro Model of the Swedish Economy


INTRODUCTION

This is the set of papers on the Swedish micro-to-macro model which were presented at the IUI-IBM Sweden conference on micro simulation models, September 19-22, 1977. To our knowledge this is the first international seminar ever devoted to micro based models of entire economic systems. Besides the Swedish model, papers were also presented on the Yale model (Orcutt et al.), on the University of Maryland model (Bergmann et al.) and on others. The conference program has been attached at the end.

The plan is to publish the complete proceedings in one volume pending editing and also to allow for separate publications of various items. The papers on the Swedish model have been ready for some time, and since we need the documentation we are now publishing them under separate cover. They will appear as they now stand in the full conference volume.

The Swedish micro-to-macro model is based on a modified Leontief- Keynesian 10 sector macro structure. Four of the sectors have been expanded to accommodate a large number of individual business firms (decision units) connected via explicit labor, product and credit markets at the micro level. The individual firm model contains several novel features. Emphasis is on the importance of the market process, as we see it at the micro level, for macro behavior. This micro-to-macro link includes both how individual decisions interact to affect macro behavior and how the behavior of the total system impacts micro units. In that sense the performance and stability properties of a market based, industrialized economy are the prime concerns of the study. The performance aspect very much centers around the allocation of total resources in the long run and how that process is affected by decision making and market behavior. More specifically, the interaction of inflation, expectations and growth is the topic that carries through the project work and also this set of papers.

 

Stockholm, April 1978

Gunnar Eliasson
Director
The Industrial Institute for Economic and Social Research (IUI)

Lars Arosenius
Dr
IBM Sweden
 

Interdisciplinary European Studies

The European Union in a Changing World Order

Pages-from-2019-Oxelheim-m.gif

This book explores how the European Union responds to the ongoing challenges to the liberal international order. These challenges arise both within the EU itself and beyond its borders, and put into question the values of free trade and liberal democracy. 

About the book

Events

Seminars organized by IFN

 

To present ongoing research informal brown-bag seminars are held on Mondays at 11:30 am. This is an opportunity for IFN researchers to test ideas and results.

Academically oriented seminars are most of the time held on Wednesdays at 10 am. At these events researchers from IFN and other institutions present their research.

In addition, IFN organizes seminars open to the public. Topics for these are derived from the IFN research.

Research Institute of Industrial Economics, Grevgatan 34 - 2 fl, Box 55665, SE-102 15 Stockholm, Sweden | Phone: +46-(0)8-665 45 00 | info@ifn.se