Modelling the Irish Economy

COSMO (COre Structural MOdel of the Irish economy) is a macro-econometric model designed for both forecasting and policy analysis. The core principles underpinning the development of COSMO are that the model should be transparent, reproducible, usable and adaptable. The documentation of the model is fully integrated into the estimation process, so that it remains current, allowing the model to evolve. Interactive and intuitive programmes are being developed to speed the process of running a forecast and designing simulations. The core model can readily be extended or adapted in order to address new or more detailed scenarios.