Downloading the MCI Model using EViews
The reference for the MCI model is Macroeconometric Modeling. This contains the complete discussion and listing of the model. The model is dated November 11, 2013. See also the The MCI Model Workbook. You should look over this workbook before working with the MCI model.

Data from the MCI model can be downloaded online by going to the output phase when working with the MCI model and downloading from there.

If you want to download the MCI model for use by EViews, there are two versions to choose from. The first is due to Matt Cushing. This is the recommended version. It achieves closer coefficient estimates to those in the FP program and those on line, and it achieves closer solutions. In general, it uses the EViews software in a better way.

Version due to Matt Cushing

The file to download is The readme.txt file in the overall zipped file is as follows:


 1  The workfile and programs supplied allow users to solve the MC model 
in EVIEWS.  The key is that for annual countries, certain variables are 
defined as averages of future quarterly variables (BEPMP, BEX00$, BEPW$, ..) 
Eviews does not handle this specification in the same manner as the FairParke 
program. The supplied model AAAAMC omits the equations containing future values
and hence treats those variables as exogenous.  The two supplied programs then
include the equations defining those variables as as averages of future 
quarterly variables.  The program then solves the model iteratively.  The 
resulting solutions closely match the solutions provided by the MCI model on 
the Website.

 MC_ITER.WK1 contains the data and the model, AAAAMC. (created with EVIEWS 9)  

 MC_BASE.prg solves the baseline model. 

 MC_SCEN.prg  allows the user to change exogenous variables and solves for the new scenerio. 

 If you have an older version of eviews, you may have to create the workfile. 

 MC_text.txt contains the data in aasci format 

 Setup.prg loads the data and the equations. (Useful for a new installation.)

 AAAAMC.prg  loads the model 
end of readme.txt

Version due to Ray Fair

For this version there are two zipped files to download:

  • EVDATA.ZIP    Contains MCEV.DAT.
  • EV.ZIP    Contains all the other files listed below.

    The individual files after unzipping are:

    • MCEV.DAT Data on 19028 variables for 1952:1--2022:4 that can be read using the file, import, read options in EViews. 19028 series, in rows, not rectangle.
    • MCEVGENR.PRG Generate a few variables that are needed that are not in MCEV.DAT.
    • MCEVEQ.PRG Estimates all but the nonlinear and trade share equations.
    • MCEVNL.PRG Estimates the nonlinear equations.
    • MCEVSHR.PRG Estimates the trade share equations.
    • MCEVSTOR.PRG Stores the 1689 estimated equations. This file is not needed for most purposes, so you can ignore it.
    • MCEVA.PRG The complete MCI model for solution.

    To work with the MCI model in EViews once you have downloaded the files, you do the following.

    • Enter in the command line: create q 1952.1 2022.4
    • Do: file, import, read, ask for file MCEV.DAT, enter 19028 series, use in rows, and use not rectangle. Hit ok. This will load the data.
    • Enter: run mcevgenr
    • Enter: run mceveq
    • Enter: run mcevnl
    • Enter: run mcevshr
    • Enter: smpl 2014.1 2021.4 if you want to solve the model over the forecast horizon (except for 2022)
    • Enter: run mceva. Then hit run. Then go to main workfile and click mceva. Then hit solve. Click the solver option and set the maximum number of iterations to about 100 (the default is 5000). Then hit ok. The solver will say it did not converge, but for all practical purposes it appears to have. Then compare, say, gdpr with gdpr_0, jaex with jaex_0, etc. to see if they are the same aside from small errors. They should be.

    The above file MCEVA.PRG is the same as the file MCEVA.INP for the Fair-Parke program aside from formatting differences. See MCI Model in the FP Program. If you solve the MCI model for the 2014:1--2022:4 period using the downloading instructions on the FP page, you will get a perfect tracking solution aside from rounding error. (Compare OUT on the site to your OUTA after downloading and solving.)

    The above Eview instructions load the MCI model in EViews and estimate the 1689 equations. If you solve the model for the 2014:1-2021:4 period, you will get roughly a perfect tracking solution. The tracking is not exact because some of the EViews estimates of the equations for the United States (equations 1 through 30) and not exactly the FP estimates due to the way EViews treats first stage regressors and serial correlation. The solution is, however, close enough for all practical purposes.

    You should be aware that there is mixing of quarterly and annual data in the MC model. Consider the following lines in MCEVA.PRG for Belgium (BE) and Denmark (DE), two annual countries.

    mceva.append VV1      =BEE
    mceva.append BEEN      =CC*VV1+CC(-1)*VV1(-1)+CC(-2)*VV1(-2)+CC(-3)*VV1(-3)
    mceva.append BEEQ      =(BEEN/BEEA)*BEEZ
    mceva.append VV2      =BEPX
    mceva.append BEPXN      =CC*VV2+CC(-1)*VV2(-1)+CC(-2)*VV2(-2)+CC(-3)*VV2(-3)
    mceva.append BEPXQ      =(BEPXN/BEPXA)*BEPXZ
    mceva.append BEPX$Q      =(BEE00Z/BEEQ)*BEPXQ
    mceva.append VV3      =BEM00$A
    mceva.append BEM00$AN      =CC*VV3+CC(-1)*VV3(-1)+CC(-2)*VV3(-2)+CC(-3)*VV3(-3)
    mceva.append BEM00$AQ      =(BEM00$AN/BEM00$AA)*BEM00$AZ
    mceva.append VV4      =DEE
    mceva.append DEEN      =CC*VV4+CC(-1)*VV4(-1)+CC(-2)*VV4(-2)+CC(-3)*VV4(-3)
    mceva.append DEEQ      =(DEEN/DEEA)*DEEZ
    mceva.append VV5      =DEPX
    mceva.append DEPXN      =CC*VV5+CC(-1)*VV5(-1)+CC(-2)*VV5(-2)+CC(-3)*VV5(-3)
    mceva.append DEPXQ      =(DEPXN/DEPXA)*DEPXZ
    mceva.append DEPX$Q      =(DEE00Z/DEEQ)*DEPXQ
    mceva.append VV6      =DEM00$A
    mceva.append DEM00$AN      =CC*VV6+CC(-1)*VV6(-1)+CC(-2)*VV6(-2)+CC(-3)*VV6(-3)
    mceva.append DEM00$AQ      =(DEM00$AN/DEM00$AA)*DEM00$AZ
    mceva.append BEPMP=.25*D1*(BEPMPQ+BEPMPQ(1)+BEPMPQ(2)+BEPMPQ(3))
    mceva.append BEX00$=D1*(BEX00$Q+BEX00$Q(1)+BEX00$Q(2)+BEX00$Q(3))
    mceva.append BEPW$=.25*D1*(BEPW$Q+BEPW$Q(1)+BEPW$Q(2)+BEPW$Q(3))
    mceva.append DEPMP=.25*D1*(DEPMPQ+DEPMPQ(1)+DEPMPQ(2)+DEPMPQ(3))
    mceva.append DEX00$=D1*(DEX00$Q+DEX00$Q(1)+DEX00$Q(2)+DEX00$Q(3))
    mceva.append DEPW$=.25*D1*(DEPW$Q+DEPW$Q(1)+DEPW$Q(2)+DEPW$Q(3))
    CC is a variable that is 1 in quarter 1 and zero in quarters 2, 3, and 4. D1 is a variable that is 1 in quarter 1 and the missing value in quarters 2, 3, and 4. (1) means a lead value of 1 quarter, (2) two quarters, and (3) three quarters. The first three lines convert BEE, which is annual, where the annual value is in the quarter 1 space, to BEEQ, which is quarterly. Similarly for the others. The VV variables have a value of 1 in quarter 1 and the missing value in quarters 2, 3, and 4. The BEPMP line converts the quarterly values (BEPMPQ) to an annual value (BEPMP). Similarly for the others.

    The bottom line is that for annual variables the values in quarters 2, 3, and 4 are never used. The FP program ignores any calculations that involve missing values. So for annual variables the values in quarters 2, 3, and 4 are always the missing value (999999.0). In the EViews data file, MCEV.DAT, the missing values in quarters 2, 3, and 4 have been changed to the value in quarter 1 for each year and annual variable. This is to avoid overflow and underflow errors. Unlike FP, EViews computes values for quarters 2, 3 and 4, and if 999999.0 is used, there can be overflow or underflow errors. Again, it makes no difference what values are used as long as there are no overflow or underflow errors since they are never used. Also note that because of the use of up to three-quarter-ahead future values, EViews can only solve the model through 2021:4 rather than 2022:4, which is the last quarter of the data. FP does not have this problem because the model is solved in chunks of four quarters at a time.