Overview of the NiGEM-S Model: Scottish version of the National Institute Global Econometric Model
The NiGEM-S model is based on the National Institute Global Econometric Model, NiGEM, a large-scale structural macro-econometric model of the world economy, which the National Institute has been developing since 1987. NiGEM is used for forecasting and policy analysis by NIESR and model subscribers, mainly in the policy community, including the ECB, the IMF, the OECD, the FSA, the Bank of England, and the central banks of France, Germany, Italy, Netherlands, Spain, Portugal and the Czech Republic.
NiGEM-S has two additional countries/regions and one extra-regio sector – Scotland, the rest of the UK and North Sea oil and gas sector – which are used in conjunction with the current UK model. The simulation options are limited to those affecting Scotland, the rest of the UK or North Sea oil and gas sector. NiGEM-S will be available from the National Institute in Q2 2014 with a user-friendly ‘front-end’ specifically designed to facilitate simulation analysis.