COMPARING GLOBAL ECONOMIC-MODELS

This article presents a first account of comparative research on multi -country models conducted by an independent third party with full hand s-on access to the models. The models are MSG2, MULTIMOD and NIGEM. Th eir structural characteristics are first compared and contrasted; thei r theoretical foundations are seen to have some broad similarities. Ov erall model properties are then elucidated by three simulation experim ents conducted in a standardized policy framework. The source and natu re of observed cross-model and cross-country differences in the result s are described, a fundamental source being the model-builders' differ ent approaches to quantification. (C) 1998 Elsevier Science B.V.