Abstract
The paper presents a theoretical description of the specification of both the real part of the F&T Model, consisting of equations for demand, labour market and capacity utilization, distribution, redistribution of income, and prices and the monetary part, consisting of portfolio equations. A complete listing of the model with numerical results of the equation estimation then follows. The dynamic stability and the predictive ability illustrate the model's performance. Finally, applications of the model with examples of policy simulations are mentioned.
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