This repository accompanies our paper, “The BIS Multisector Model: A Multi-Country Environment for Macroeconomic Analysis”, authored by Matthias Burgert, Giulio Cornelli, Burcu Erik, Benoit Mojon, Daniel Rees and Matthias Rottner.
The paper introduces the BIS Multisector Model (BIS-MS), a dynamic stochastic general equilibrium (DSGE) model for analyzing macroeconomic dynamics in a multi-sector production network. The model can be calibrated to match the input-output data of more than 80 economies, enabling a detailed exploration of sectoral interdependencies and cross-industry shock transmission. The accompanying model toolbox equips policymakers and researchers with an easy-to-access platform for flexible scenario analysis. You can access the full paper here.
To use the toolbox, the users need MATLAB, the MATLAB Optimization Toolbox, and Dynare version 5.5. Please refer to the learning guide (BIS_Multisector_Model_Learning_Guide.pdf), which demonstrates the toolbox's capabilities through practical examples. The guide includes two key use cases:
- Simulating a temporary shock.
- Simulating a structural change in the economy.
These examples provide step-by-step instructions to help users effectively navigate and utilize the toolbox.
THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.