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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

model

see ECONOMIC MODEL.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
| A member of the Skipton and District Railway Society keeps a close watch on the Dolores, Colorado layout at last year's Huddersfield Railway Modellers Exhibition at Holmfirth Civic Hall
Among the guests will be the editor of specialist magazine Continental Modeller, Andrew Burnham.
It is on Saturday, April 27, from 10am to 4.30pm and will give families and modellers the chance to see various rail layouts in action.
They were joined by other modellers from across the country who brought a further seven track layouts.
Organised by Huddersfield Railway Modellers Group the annual event was the 43rd to be staged.
Huddersfield Railway Modellers has around 45 members ranging in age from 16 to enthusiasts in their 80s.
Each year the event attracts hundreds of visitors and modellers from all over the district.