The Macroeconomic Model Data Base

*** A new version of the Macro Model Data Base with ADAPTIVE LEARNING is now available for download ***

The Macroeconomic Model Data Base is an archive of macroeconomic models based on a common computational platform that provides various tools for systematic model comparison. The project is headed by Volker Wieland, Professor of Monetary Economics at Goethe University Frankfurt. The Model Database has been part of the EU-sponsored joint initiative on "Modelling and Implementation of Optimal Fiscal and Monetary Policy Algorithms in Multi-Country Econometric Models" (MONFISPOL) until the most recent update 1.2.

This initiative has been supported by funding through the Seventh Framework Programme for Research (FP7) of the European Commission's Socio-economic Sciences and Humanities (SSH) Program from October 2008 to September 2011 under grant agreement SSH-CT-2009-225149.

Development of the version of the model database with adaptive learning was supported by a grand of the Grand Agency of Czech Republic under grant agreement P402-11-J018.

We would like to thank the researchers who shared their model codes and/or assisted in model replication as well as Ph.D. Students at Goethe University who helped implementing models in the database, listed here.

List of models available in the Macroeconomic Model Data Base (version 1.2)

In order to download the Macro Model Data Base (MMB) software, please register with your email address below. You will then get the password for the Login to the Download section. The e-mail address is not made public and will only be used to inform you about updates of the MMB.

Register or Login for Download

Volker Wieland and Maik Wolters on the Model Database, VoxEU (February 13, 2012) "Macroeconomic model comparisons and forecast competitions"

The Econbrowser blog on forecasting and the Model Database, posted by Menzie Chinn (February 14, 2012) "The Budget Forecasts... And Forecasts in General"

House of Finance Director Wolfgang König discusses the Macroeconomic Model Database in his speech at the Frankfurt Finance Summit 2012.

John B. Taylor on the Model Database "Got a New Idea for Monetary Policy?"

John B. Taylor on Model comparison "New Model Validation of Stimulus Impacts" (April 16, 2012)

Volker Wieland on the Model Database, Handelsblatt (March 15, 2010) "Woran arbeiten Sie gerade, Herr Wieland?"

Speech by Volker Wieland at the conference "What's Right with Macroeconomics?" (Cournot centre, December 2-3, 2010): video

Les Échos mentions the Model Database as an example for transparency "Ce que révèle vraiment WikiLeaks"

As source please always cite:

• Wieland, Volker,  Tobias Cwik, Gernot J. Müller, Sebastian Schmidt and Maik Wolters, "A New comparative approach to macroeconomic modeling and policy analysis", Journal of Economic Behavior and Organization, August 2012, Vol. 83, 523-541 (last working paper version)

Other papers using the Macro Model Data Base:

• Cogan, John F., Tobias Cwik, John B. Taylor and Volker Wieland, "New Keynesian versus Old Keynesian Government Spending Multipliers," Journal of Economic Dynamics and Control, March 2010, 34, 281-295 (last working paper version)
• Cwik, Tobias and Volker Wieland, "Keynesian government spending multipliers and spillovers in the euro area," Economic Policy, July 2011, Vol. 26, Issue 67: 493-549 (last working paper version)
• Taylor, John B. and Volker Wieland, "Surprising Comparative Properties of Monetary Models: Results from a New Monetary Model Base," Review of Economics and Statistics, August 2012, Vol. 94, No. 3: 800-816 (Link, last working paper version)
• Wieland, Volker, "Model Comparison and Robustness: A Proposal for Policy Analysis after the Financial Crisis," forthcoming in eds R. Solow and J.P. Touffut, "What's Right with Macroeconomics?", Cheltenham, UK, and Northampton, USA: Edward Elgar (last working paper version)
• Wieland, Volker and Maik Wolters, "The Diversity of Forecasts from Macroeconomic Models of the U.S. Economy," Economic Theory, May 2011, Vol. 47, No. 2-3: 247-292 (last working paper version)
• Cogan, John F., John B. Tayor, Volker Wieland and Maik Wolters, "Fiscal Consolidation Strategy: An Update for the Budget Reform Proposal of March 2013", IMFS Working Paper Series No. 68 (2013)

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Please let us know if you have any questions or comments.