Abstract
Main properties of the new generation of large macroeconometric models for socialist economies - exemplified by the model W-5 of the Polish economy - are discussed. The structure of the model W-5 is shown. It generates the expected path of growth, allowing for the technical progress and the likely barriers in availability of production factors causing the underutilization of capacities. It also generates demand and supply in commodity and labour markets and the changes in the intensity of disequilibria. It contains large financial sector including price determination. The main feedbacks are characterized - supply type accelerator, foreign trade - output bottlenecks and inflationary loop. The use of the model in forecasting and scenario analysis is emphasised.
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