Re-estimation of the Macro-econometric Model of the Albanian Economy (MEAM)

The MEAM macromodel has been mainly used to analyze various risk scenarios in the Albanian economy, as well as to generate projections about important macroeconomic indicators like inflation, GDP components, labor market, etc. The current MEAM estimation is based on vintage quarterly data during the 1996-2006 period. Because many of the important indicators have been revised in recent years, this article intends to investigate whether such revisions and the extension of the estimated period with post-global crisis data observations have affected the stability of the model.