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Joint Research Center (JRC)
IO-DSGEM

Input-Output Dynamic Stochastic General Equilibrium Model

Economyscenario analysisInput-Output model

Quality & Transparency

Quality

Model uncertainties

Models are by definition affected by uncertainties (in input data, input parameters, scenario definitions, etc.). Have the model uncertainties been quantified? Are uncertainties accounted for in your simulations?

yes
Simulations are performed considering the posterior mean values of parameters. Model uncertainty can be given in percentiles

    Sensitivity analysis

    Sensitivity analysis helps identifying the uncertain inputs mostly responsible for the uncertainty in the model responses. Has the model undergone sensitivity analysis?

    yes
    Global sensitivity analysis is performed to detect the most relevant parameters for stability and dynamics

      Have model results been published in peer-reviewed articles?

      yes
      The model has been peer-reviewed in previous applications (EC, Italian Telecommunication Authority)

        Has the model formally undergone scientific review by a panel of international experts?

        Please note that this does not refer to the cases when model results were validated by stakeholders.

        no

          Model validation

          Has model validation been done? Have model predictions been confronted with observed data (ex-post)?

          not applicable
          The model, in the current setting, is for ex-ante policy simulation purposes. Unconditional in-sample prediction performances are evaluated at the estimation stage

            Transparency

            To what extent do input data come from publicly available sources?

            This may include sources accessible upon subscription and/or payment

            Entirely based on publicly available sources

            Is the full model database as such available to external users?

            Whether or not it implies a specific procedure or a fee

            no
            The model uses three main data sources: OECD – STAN STructural ANalysis Database; Eurostat - Industry, trade and services – Industry and construction Industry; ESA 95 Table – Input-output tables – Eurostat

              Have model results been presented in publicly available reports?

              Note this excludes IA reports.

              yes

              Have output datasets been made publicly available?

              Note this could also imply a specific procedure or a fee.

              no

                Is there any user friendly interface presenting model results that is accessible to the public?

                For instance: Dashboard, interactive interfaces...

                no

                  Has the model been documented in a publicly available dedicated report or a manual?

                  Note this excludes IA reports.

                  yes
                  A detailed description has been included in the final Study to support the IA for revision of the eIDAS regulation report. In addition, peer reviewed literature is available.

                  Is there a dedicated public website where information about the model is provided?

                  no

                    Is the model code open-source?

                    no

                    Can the code be accessed upon request?

                    yes