Hermes: harmonised econometric research for modelling economic systems

Hermes: harmonised econometric research for modelling economic systems

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HERMES:
Harmonised Econometric Research
for Modelling Economic Systems
Edited by:
COMMISSION OF THE EUROPEAN COMMUNITIES
NORTH-HOLLAND HERMES:
Harmonised Econometric Research
for Modelling Economic Systems ζ
HERMES:
Harmonised Econometric Research
for Modelling Economic Systems
Edited by
COMMISSION OF THE EUROPEAN COMMUNITIES
Bâtiment Jean Monnet
Plateau du Kirchberg
L­2920 Luxembourg
PARL EUROP. Biblioth.
u.c.euü4W
■"Ί. 1993
NORTH­HOLLAND
Amsterdam ­ London ­ New York ­ Tokyo ELSEVIER SCIENCE PUBLISHERS B.V.
Sara Burgerhartstraat 25
P.O. Box 211, 1000 AE Amsterdam, The Netherlands
Publication nr. EUR 14359 EN of the
Commission of the European Communities,
Dissemination of Scientific and Technical Knowledge Unit,
Directorate-General Telecommunications,
Information Industries and Innovation,
Luxembourg
ISBN: 0 444 89760 7
© 1993 ECSC-EEC-EAEC, Brussels-Luxembourg. All rights reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the
prior written permission of the publisher, Elsevier Science Publishers B.V., Copyright &
Permissions Department, P.O. Box 521, 1000 AM Amsterdam, The Netherlands.
Special regulations for readers in the U.S.A.- This publication has been registered with the
Copyright Clearance Center Inc. (CCC), Salem, Massachusetts. Information can be obtained
from the CCC about conditions under which photocopies of parts of this publication may be
made in the U.S.A.. All other copyright questions, including photocopying outside of the U.S.A.,
should be referred to the publisher, Elsevier Science Publishers B.V., unless otherwise specified.
No responsibility is assumed by the publisher for any injury and/or damage to persons or
property as a matter of products liability, negligence or otherwise, or from any use or operation
of any methods, products, instructions or ideas contained in the materials herein.
LEGAL NOTICE
Neither the Commission of the European Communities nor any person acting on behalf of the
Commission is responsible for the use which might be made of the following information.
This book is printed on acid-free paper.
Printed in The Netherlands. CONTENTS
Chapter 1
Introduction
E. Donni, P. Valette and P. Zagamé 1
Chapter 2
History and Perspective of the HERMES Project
E. Donni and P. Valette 3
Chapter 3
The HERMES Model for the Member States
of the European Community
A. Italianer, G. d'Alcantara and P. Zagamé 15
Chapter 4
HERMES: A Macrosectoral Model for the Belgian Economy
F. Bossier, B. Martens, P. Strumelle
and W. van der Beken 65
Chapter 5
HERMES: A Macrosectoral Model for the Dutch Economy
E.S. Mot, P.J. van den Noord,
D.D. van der Stelt-Scheele and M.A. Koning 113
Cltapter 6
HERMES: A Macrosectoral Model for the French Economy
M. Assouline and A. Epaulard 205
Chapter 7
HERMES: A Macrosectoral Model for the German Economy
J.-M. Philip and H. Rogner 277
Chapter 8
HERMES: A Macrosectoral Model for the Irish Economy
J. Bradley, J. Fitz Gerald, D. Hurley
L. O'Sullivan and A. Storey 32VI
Chapter 9
HERMES: A Macrosectoral Model for the Italian Economy
P. Bosi, R. Golinelli and A. Stagni 453
Chapter 10
HERMES: A Macrosectoral Model for the UK Economy
R. van der Putten, I. Stern and T. Barker 53
Chapter 11
Isolated, linked and Coordinated Variants
E. Donni 569
Chapter 12
Completion of the Internal Market:
Results of Macroeconomic Model Simulations
M. Catinai, E. Donni and A. Italianer 57
Chapter 13
Appendices
Appendix I 643 x II 68
Appendix III 707