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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 ?
Also, new types of models are continuously being developed and used (such as predictive models in life insurance).
In some models, the computations produce simplistic crystals that lack the intricate features that are typical of so many snowflakes, such as bristly, elaborate side branching.
People tend to think "organization" first, not "process," and architecture models should be created independent of the organization.
Conair has larger models of its Carousel Plus desiccant-wheel dryers capable of up to 5000 lb/hr.
A model has been designed that provides both instructional technique and cognitive theory to accommodate the difficulties of structure provision and personal/group direction of learning.
But even if employers know which valuation model works better for them, they still may have doubts about how to build it.
As with all Mustang compact excavator units, the boom systems on these models consist of one piece of steel vs.
Over time, the ability of genetically modified mouse models to serve as living instruments for both in vivo and molecular research has earned them a prominent niche in contemporary efforts to integrate genetics and genomics with classic toxicology.
Authors Bemak, Chung, and Siroskey-Sabdo, in their article "Empowerment Groups for Academic Success: An Innovative Approach to Prevent High School Failure for At-Risk, Urban African American Girls," have introduced us to a model they portend may be an effective intervention in working with at-risk populations.
In the past, the .45 automatic generally was chambered in larger-frame handguns with lower cartridge capacities, though some models now offer a smaller-size frame or use a relatively high-capacity magazine.
With that understanding in mind, a series of National Institutes of Health (NIH) consultations was organized to address the potential of mathematical models to help with bioterrorism preparedness and response.
This reduction in welfare arises in the context of a class of models that economists often use to characterize the workings of the economy--the so-called New Neoclassical Synthesis (NNS).

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