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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 ?
We recommend structuring the documentation so it is easily maintained when the model is updated and revised.
The model represents snowflakes as two-dimensional objects.
The model of social, self-direction has been under a constant iteration process.
Data that support the model's impact on the lives of the African American females are necessary to market this tool to professional school counselors who work with various populations of students, particularly those who are identified as at risk.
Age and household characteristics in the model populations reflect 2000 census data, with communities structured to incorporate homes, neighborhoods, schools, workplaces, and hospitals.
Support, the last dimension of the model, looks at the level and type of assistance given by management or the supervisor to the worker.
The certainty-equivalent policies suggest that policymakers have considerable ability to limit fluctuations in both output and inflation, but this result seems to rest heavily on the model in question being exactly correct.
Accessible on NOAA's intranet, the model presents users with customized graphical views of the precise data they need.
With these modifications, the model measures the fair value of ESOs based on the hypothetical price a fully-diversified outside investor would pay in an arm's-length transaction to purchase the right to receive the ESO's cash flow (as distinct from the ESO itself, which is not transferable).
The model was tested against commercial digester operating data with good results.
Figure 1 provides an overview of the objective and purpose of the model.