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 ?
the use of financial techniques in modelling such as VAR, options pricing, bond calculations, optimisation techniques and real options;
The project takes flood modelling in Germany a step further than the existing ZURS flood zonation model, allowing an insurer or reinsurer to assess correlations between flooding in different regions.
VaST's high-performance architecture and processor models are the world's first and only products to support the specification, architecture, modelling, hardware and software development design processes, while maintaining real time execution and timing accuracy.