New version (1.2) of the Macroeconomics Model Database

We would like to draw your attention to the new release of the Macroeconomic Model Database, version 1.2. The Modelbase software can be downloaded together with a comprehensive list of all models from our website macromodelbase.com.

New models

The database now covers 50 models, ranging from small-, medium- and large-scale DSGE models to earlier-generation New-Keynesian models with rational expectations and more traditional Keynesian-style models with adaptive expectations. It includes models of the United States, the Euro Area, Canada, and several small open emerging economies. Some of the models explicitly incorporate financial frictions.

Modelbase software now compatible with DYNARE 4

Two versions of the Modelbase software are available. One uses the solution methods in Dynare 3.065 as in the previous release, version 1.1. In addition, we now offer a version that is compatible with Dynare 4.2.1.

Comparing your own models to existing benchmarks

It is also possible to add your own models. The implementation instructions are described in Wieland, V., T. Cwik, G. Mueller, S. Schmidt and M. Wolters. “A New Comparative Approach to Macroeconomic Modeling and Policy Analysis,” Working Paper Goethe University Frankfurt, 2011.

Replicating the original model author’s analysis

For a subset of models in the database, replication files are provided. These files contain replications of model output presented in the original papers such as impulse responses or autocorrelations.

Should you have any questions, please do not hesitate to contact us. Your comments and suggestions are highly appreciated. Also, please feel free to forward the link to the database to interested researchers or students.

Sincerely,

Volker Wieland and Sebastian Schmidt
House of Finance, Goethe University of Frankfurt.

Hi,

my name is Márcio and I’m trying to add the model Gerali et al. (2010) in the Macroeconomic Data Base. I follow the steps written in Wieland and Wolters (2012), but when I run the model appears the message:

??? Error using ==> cd
Cannot CD to C:\Users\Marcio\Desktop\Marcio Doutorado\Macroeconomic Model
DataBase\MMB_1_2_Dyn4\MMB_1_2_Dyn4\EA_GNSS10\EA_GNSS10 (Name is nonexistent or not a
directory).

Error in ==> MMB at 540
cd(modelbase.setpath(modelbase.models(epsilon),:)); %
go to directory of specific model

How can I fix this?

Best, Márcio.

If you are interested in replication you may also want to take a look at this: