model

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Model

Any mathematical formula or other structure that economists use to explain or predict occurrences. Economists test their models with real world facts before they gain wide acceptance, but, even then, there is no guarantee that a model will always be a correct predictor. See also: Model risk.

model

An abstraction of reality, generally referring in investments to a mathematical formula designed to determine security values. Economists also use models to project trends in economic variables such as interest rates, economic activity, and inflation rates.

model

see ECONOMIC MODEL.
References in periodicals archive ?
An alternative to Inglehart's causal model of economic and cultural determinants of democracy is shown in Figure 2.
Non-linear (but not non-additive) quantitative causal relationships are possible, and because of this (2a) the assumption of linearity, which Humphreys is willing to make in order to recover the standard apparatus of causal models, has a 'conventional role' in his approach.
The objective of the analysis was to establish if the causal model validated in the previous step functions differently in the sample of women diagnosed with alcohol consumption as opposed to the sample of men with the same disorder.
Causal Model representing the Colombian health system components
The implied causal model says that higher employee engagement leads to better business performance.
drug policy has been based on inaccurate assumptions and incorrect causal models that have led to an ever-escalating failure.
Incorporating social constructs in causal models while considering practical realities enable research to produce policy-relevant evidence.
A structural equation is an equation taken directly from the causal model.
In this research, through a structural equation modeling technique and fitting degree contrast, a causal model of the micromechanism of entrepreneurial decision making was posited.
We developed a control-trust-cooperation causal model linking formal controls to three perceptions: scrutiny, intrusion, and threats to autonomy (see Figure 1).
What is more, the causal model does not 'invite' one to think about constitutional change.
It could be argued that research into child unintentional injuries that similarly linked micro-level and macro-level causes and examined mediating factors could provide a more satisfactory causal model, which may lead to more effectively targeted interventions to prevent injury.