The Current Version of the Bank of Greece Model

At the Bank of Greece econometric modeling started in 1975 when the Bank’s first model of the Greek economy was developed under the leadership of the outgoing Governor of the Bank C. Garganas. The model was extensively used for many years in forecasting as well as in policy analysis and proved … to be an indispensable tool for the policy decisions of the Bank over a broad spectrum of issues. Model of Greece is an ongoing activity fuelled by the changes in the economy as well as by modeling theoretical advances. This paper describes and documents the use of the current version of the Bank of Greece model.