TROLL - Impression.be

pReSenTS SofTwaRe 

TROLL is integrated software for econometric, 

modeling and statistical analysis. 

TROLL is a premium econometric modeling 

and analysis tool used by many of the world’s 

leading central banks, national and international 

government agencies, commercial institutions 

and research organisations. 

The complete TROLL suite has been 

developed, marketed and supported by 

INTEX Solutions, Inc., whose headquarters 

are located in Boston, Massachusetts, 

USA. HENDYPLAN (Brussels, Belgium) has 

developed many additional components as 

Add-ins to TROLL. 

OVERVIEW 

HENDYPLAN is the exclusive distributor in the 

wide Europe but also operates occasionally 

in Africa and the Middle-East. 

State of art environment 

for timeseries management, 

analysis and modeling 

All abbreviations, definitions and copyrights are at the end of this document. 

www.hendyplan.com - info@hendyplan.com - BRUSSELS - FRANkFURT - LUXEMBOURG - PARIS - TEL: +352 26 64 44 

All brands and product names are trademarks or registered trademarks of their respective holders - © HENDYPLAN, Brussels, Bemgium

SofTwaRe/oVeRView 

The power of TROLL is… unlimited and portable 

TROLL was developed initially at the Massachusetts 

Institute of Technology (Boston, USA). It 

was dedicated to the former IBM 370 computer 

and was already very successful worldwide. 

The development of Portable TROLL started 

in 1992: the aim was to provide statisticians, 

econometricians, modellers, and researchers, 

with the power of mainframe TROLL exploitable 

on MS-WINDOWS and UNIX. 

Portable TROLL is now used worldwide on 

PC and UNIX machines, taking advantage 

of a total portability: any application may be 

switched between UNIX and PC-WINDOWS at 

any time. The totally new design of TROLL also 

offers an advanced user-friendly graphical 

user interface (including the advanced Client- 

Server features). 

The main advantage of TROLL is certainly 

its state-of-the-art model simulation engine 

designed for large systems. Now, TROLL 

includes sophisticated objects such as arrays 

with any number of space dimensions, scalar 

timeseries, array timeseries, supporting any 

kind of periodicities including daily, infra-daily 

and user-defined periodicities. 

DATA manipulation 

Handle Data through 

librairy of more than 

250 functions 

MODEL manipulation 

Edit model, create equations, 

modify, save, etc. Compile 

model in TROLL format 

REGLESSION tasks 

From OLS to non-linear systems 

on coefficients, constrained or 

not, VAR, VECM, etc. 

KERNEL 

hosts objects, 

modeling and 

programming 

[ Figure 1: Architecture of the modules ] 

For this reason, experts in econometrics find all 

the necessary tools available to develop their 

experiments in areas such as macro-economics, 

micro-economics and finance: there is no limit 

to designing applications involving timeseries, 

mathematics and the import/export of data 

with external formats (see figure 1). 

TROLL is built on the complete integration 

of various tasks (calculation, model edition, 

estimation, simulation…). Hence, it’s very easy 

to store a data object at one place, recover it 

at another place and compute it again later; it 

is readily available anywhere within the TROLL 

environment. 

The integration of various tasks and the optimal 

use of the machine’s memory make TROLL the 

best solution for you. 

Compatibility with MS-WINDOWS has 

provided a fast and comfortable interaction 

with the system: 

• integrated text editor, 

• interfaces, buttons and MS-WINDOWS flexibility, 

• MS-EXCEL interface, etc. 

REPORTING capabilities 

Multiple levels of 

reporting, autmation 

of reports production 

IOs and databases Interface to 

multiple products, extendable 

(open system to 

plug your formats) 

SIMULATION task 

Backward, forxard looking, 

accurate control of convergence 

iterations 

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Interface and programming language 

User-friendly and extensible system 

We have built for you a system that has 

both user interfaces and a programming 

language. 

TROLL is available for any platform, MS- 

WINDOWS or UNIX, under the control of 

interfaces to provide improved efficiency and 

comfort in daily work. The interaction with the 

system is through a combination of mouse and 

menu bar clicks, switches between windows, 

and command specifications/processing in 

editors. Therefore, TROLL belongs to a list 

of rare products where the user does not 

see any difference between using the system 

on WINDOWS or UNIX. Through the client/ 

server mechanism, the user connects to any 

platform within your organisation’s network, 

or over the Internet (if your firewall allows it), 

without changing the windows to interact with 

the software. 

Use the same integrated service... 

Via your own library 

of tools, using TROLL 

Programming Language 

FROM RESEARCH and 

DEVELOPMENT 

Via command lines 

The challenge is to keep the capability of designing 

and tuning your own application within 

the same comfortable framework of windows: 

the TROLL programming language is complete 

and helps you to design your own applications 

for a higher degree of automation. 

Finally, the system fits with your daily work: on 

the one hand exploring, looking for information 

and processes, while on the other, developing 

routines involving models, data manipulation 

and econometrics. 

HENDYPLAN has many years of experience in 

the development of flexible interfaces for your 

business area, in close collaboration with your 

experts, to attain a higher level of productivity. 

Since each business has its own specific needs, 

HENDYPLAN will customise TROLL to suit your 

particular requirements. 

...on any operating system (MS-WINDOWS, UNIX) 

covering your needs 

TO 

PRODUCTION 

Via WINDOWS interfaces, 

mouse click, pop-up menu 

and buttons 

3 

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Data management 

DATA representation, best performance in computation 

Powerful modeling tools are only useful if you 

can easily access your data. TROLL provides 

the widest range of data management tools 

available in econometric/data manipulation 

packages. In addition, you can create your 

own functions and macros, making the system 

unlimited. 

TROLL includes an extensive library of functions 

(more than 250) for your data transformation, 

in areas such as: 

• Algebra and 

Trigonometry, 

• Array 

Creation and 

Manipulation, 

• Character String 

Manipulation, 

• Matrix Algebra, 

• Missing Values, 

Output, 

• Random 

Numbers, 

[ Table 1: Classification of the TROLL functions ] 

Many types 

such as 

• Numeric, 

• String, 

• Date, 

• Boolean, 

• NA 

(Non-available). 

• Probability 

Distributions, 

• Summary 

Statistics, 

• Programming, 

• Modeling, 

• File system, 

• External File 

Input/Output, 

• System Interface, 

• Timeseries and 

Dates. 

But also many 

organisations 

• Scalar, 

• Array, 

• Scalar 

timeseries, 

• Array timeseries. 

[ Table 2: Types and organisations attached 

to the DATA object in TROLL ] 

Functions may be built-in, or external like 

the optional HENDYPLAN toolbox, separately 

supplied to customers desiring an even higher 

level of efficiency. 

TROLL is designed to handle very large systems; 

it contains all tips for the fastest computation 

of databases. A TROLL database is either a 

single file on the disk or a storage area in your 

memory. Binary and text formats are available. 

Some formats are compatible between UNIX 

and MS-WINDOWS, for a higher level of 

portability: in this case, it is possible to read 

and write in the same file, both from the MS- 

WINDOWS TROLL process as well as from the 

UNIX TROLL process. 

Many data objects are accepted for larger 

capabilities in designing applications. 

Besides this sophistication, object names in 

TROLL have no limitations regarding length. 

Furthermore, DATA may have any number of 

values inside it, providing the memory is large 

enough to load it at one time. Therefore, 

TROLL could become a powerful and modern 

data warehouse for your organisation. A very 

efficient language will help you to navigate 

in the databases, and find what you are 

looking for, across the various database 



connections you have opened in your current 

environment. 

In TROLL, you can easily create lists of 

variables, which may be used for data 

manipulation, table and graph production. 

TROLL’s permanent goal is to offer you high 

flexibility and productivity standards. 

You can easily implement information systems 

in TROLL. The DATA concept can host metadata, 

thanks to its sophisticated structure. 

TROLL offers a wide range of periodicities. 

Nearly all time units are available to support 

any kind of applications, from the macroeconomic 

modeling activity, mostly based on 

fixed periodicities, such as Annual, Quarterly, 

Monthly (for the most frequent ones), to applications 

in the financial areas, where daily, 

hours-minutes-seconds data may appear in 

databases. 

Through the functions, it is easy to attach date 

labels in your country’s language to any of 

the calendars, in order to design your output 

at publication quality level: just associate a 

string timeseries with the appropriate date 

specifications and send the results to an output 

device by linking the labels to the values. 


Wide range of periodicities 

TROLL is efficient in any environment with time dimension 

• Yearly, 

• Quarterly, 

• Monthly, 

• Weekly (ISO 8601), 

• Daily and Business Daily, 

• Hours, Minutes, Seconds, 

For example, timeseries may be documented 

by textual information at any level. 

As econometrics is also a matter of keeping the 

same data in multiple versions, for shocks, experiments, 

etc, TROLL’s ACCESS and SEARCH 

lists offer immediate availability of DATA with 

same names but different contents. This refinement 

is also a component of efficiency. Just 

imagine the amount of time saved by not needing 

to rename variables in a model or in a set of 

formula for database transformation purposes. 

Aside from the basic periodicities defined 

above, TROLL has introduced the capacity 

to derive more date management effects by 

jumping observations in a basic unit of time 

(see the ‘X’ operator below), or by freezing 

the number of observations in a unit of time 

(see the ‘P’ operator below). Here are some 

examples. 

5 


[ Table 3: The basic TROLL periodicities ] 

• Monthly X12: Annual, 

• Monthly X6: Semi-annual, 

• Monthly X3: Quarterly, 

• Monthly X2: Bimonthly, 

• Monthly P2: twice monthly, 

• Monthly P3: 3 times a month or every 

ten days, 

• Daily X14: bi-weekly, 

• Daily X7: weekly, 

• Business-Daily X5: weekly and the 

possibility to have the week start at 

any day of the week, regularly over the 

periods. 

• User-defined with arbitrary tick marks. [ Table 4: Some derived periodicities in TROLL ] 



Compatibility with external products 

Use TROLL as a node for integration 

Most of the compatibility with external products 

is carried out through the generalised TROLL 

database interface. 

One of the most famous database interfaces in 

TROLL is probably the one with FAME. TROLL 

is fully compatible with FAME. The TROLL to 

FAME interface allows a dynamic access to the 

FAME databases. Therefore there is no need to 

EXTRACT from FAME and then LOAD in TROLL, 

or vice versa. ACCESS the FAME database as 

you would any other TROLL database, reading 

or writing DATA in the linked FAME file: the information 

will be available straightaway during 

a FAME session. The Fame Remote access 

to Databases (FRDB) is also supported. There 

is no need for concern over the date compatibility, 

as all FAME periodicities are recognised 

by TROLL because of its extensive capabilities 

in periodicity designs. 

TROLL also has a very efficient interface to 

MS-EXCEL and provides a complete library to 

read/write timeseries on external sheets. The 

figure 2 shows the compatible formats. 

Therefore, TROLL is a product for the 

integration of your business: you can make 

any of the TROLL databases compatible with 

other kinds of applications you may have 

already implemented. 

The time dimension concept in TROLL is large 

enough to maintain compatibility with external 

products. 

HENDYPLAN has a wide experience in insite 

integration of TROLL and has never 

encountered technical problems in this area. 

ALL POSSIBLE PERIODICITIES ARE AVAILABLE 

Dynamic linkage 

• AREMOS TSD 

files 

• TSP files 

• FAME 

databases 

• Your own 

format of 

databases 

�TROLL 

generalised 

database 

interface 

TROLL ENGINE 

Import & Export 

• WK* family of 

files 

• CSV formats 

• XLS files 

through the 

interface 

• Any external 

format 

� 

Libraries of 

functions 

[ Figure 2: Various integrations of foreign formats in TROLL ] 



Finally TROLL offers extensive features to 

interconnect external products. The list 

presented in the figure above is not exhaustive 

because of the wide possibilities available 

through the TROLL Programming Language 

and the generalised database interface to 


connect your own formats. 

The modeling language and the MODEL 

Advanced and no limitation on size 

The modeling language possesses the highest 

level of sophistication, ideal for handling 

complex non-linear systems. 

• TROLL is already famous for handling 

very large systems of equations (in tens 

of thousands of equations and even more 

depending on the RAM); therefore the tools 

included to maintain the text of equations 

are also very complete: Since TROLL is an 

open system, the text file containing the 

list of equations may be seen from the 

MS-WINDOWS oriented TROLL text editor, 

but also from any editor or text processor 

package, 

Endogenous 

with leads 

Nonnormalised 

equations 

DELL 

(n-order 

difference) 

operator 

used straight 

on terms 

This flexibility is important to interconnect any 

kind of external products. For example, TROLL 

recognises at least the EUROSTAT (Luxembourg)/ 

CRONOS databases, DATASTREAM files, etc. 

• TROLL contains many functions to manipulate 

the text of equations from Macros and/or 

the TROLL Programming Language; here, 

the processing may be very sophisticated, 

by recognising operators, variable names, 

functions, etc; imagine just having, at the 

touch of a button, a toolbox for the complete 

recognition of the grammar of your system 

of equations. 

Once a model is ready as a text file, TROLL will 

compile its structure and mathematics. There is 

no need for you to differentiate a right hand side 

from a left hand side, and if it is more legible, a 

term may be designated as the left hand side. 

ADDSYM 

ENDOGENOUS ... US_C US_MPC US_MPCINV US_PGNP US_PGNPNO ... , 

EXOGENOUS ... US_LAMBDA US_SIGMA ...; 

ADDEQ BOTTOM 

US_C : US_C = US_C_DI+US_C_PI , 

US_MPC : US_MPC = 1/US_MPCINV , 

US_MPCINV: US_MPCINV(1) = US_MPCINV - 1 - ((1 - US_SIGMA)*(US_RSR+US_PROB) - ( 

RES_US_MPC+US_PROB))*US_MPCINV/US_S IGMA , 

US_WH1 : US_WH1(1) = 

US_WH1* 

(1+US_RSR+US_ALPHA1+RES_US_WH 1+US_PROB+EXP( US_DLLF_SS) - 1) 

- (((1 - US_BETA)*US_GDP*US_PGNP - US_TAXH)/US_P+RES_US_WK*US_WK) , 

US_PGNP: DEL(1: LOG(US_PGNPNO)) = 

US_LAMBDA*(US_DELTA_PI*DEL(1: LOG( US_PGNPNO(1))) 

+(1 - US_DELTA_PI)*DEL(1: LOG(US_PGNPNO( - 1)))) 

+(1 - US_LAMBDA)*DEL(1: LOG(US_PGNPNO( - 1))) 

+US_GAMMA/100*(US_NLIN - US_UNR)/(US_UNR - US_PHI) 

+RES_US_PGNP , 

...; 

[Source: MULTIMOD MARK3, (c) IMF, Washington DC, USA] 

7 


[ Figure 3: The MODELING LANGUAGE ] 


TROLL will treat the system as a linear or 

a non-linear one, as a set of exogenous, 

endogenous, or coefficient variables, equal 

to 0, wherever they appear. In any case 

TROLL will automatically allocate an unknown 

variable to an equation: this variable may not 

belong to the left hand side, and a system 

will be solvable only if all unknown variables 

are associated to an equation. Tools exist to 

monitor the results of these associations. 

Attention need not be paid to the order in 

which you declare equations. The incidence 

matrix will be built automatically, detecting 


Estimation 

Maximum integration with all other modules 

In TROLL standard edition 

simultaneous blocks. This process will help 

a lot to optimise the solving steps, using the 

smallest set of information in memory as 

possible. 

Any of these automations may be forced 

manually. 

The GENERIC module developed by 

HENDYPLAN can help you in managing 

your multi-country or multi-sector model, 

or any kind of model for which you need to 

expand equations according to certain space 

indexes. 

TROLL includes a wide range of single and multiple equation estimation techniques for both time 

series and cross-section data. 

Single linear equation: 

• Ordinary Least Square, Serial 

Correlated Correction 

(Cochrane-Orcutt and Hildreth-Lu 

procedures), Two 

Stage Least Square. 

• Add in a flexible way distributed 

lags, polynomial 

distributed lags. 

Single non-linear equation 

(on the coefficients): 

The integration of regression tasks with the 

rest of TROLL makes this part of the system 

very flexible: equations of a model may be 

automatically re-estimated, results of any 

kind may be saved as other data available 

in other parts of TROLL, especially, the data 

manipulation module. 

• Availability of the convergence 

parameters of the 

simulation part, opening a 

very accurate control of the 

iterative process; 

• Add in a flexible way distributed 

lags, polynomial 

distributed lags. 

Non-linear simultaneous 

equation model: 

• Full Information Maximum 

Likelihood, 2 Stage Least 

Square, 3 Stage Least 

Square, ZELLNER. 



In FORECASTMOD 

Single linear equation: 

• Ordinary Least Square, 

variables decomposition 

are available, 

• VAR, VECM using Johansen 

cointegration algorithm, is 

programmed in such interface, 

• As a side effect tests are 

available in the flow of the 

computation, such as normality, 

heteroskedasticity, 

autocorrelation, etc, as well 

as recursive regressions 

for the coefficient stability 

analysis. 

FORECASTMOD is also providing 

all results in MS-EXCEL 

with tables and graphs. 


FORECASTMOD is userfriendly interface making the most of the regression tasks accessible as 

well from a menu-drive system and as MACRO with full automation of exercises. 

Simulation and forecasting 

Definitively the state of the art 

Flexibility of use: 

DATA 

input 

DATA 

output 

Result in 

spreadsheet 

• No limit to the number of equations, 

• Many combinations to control input 

data to the simulation and to involve 

shocks, 

• Integration with the rest of TROLL, i.e. 

availability of all data transformation 

functions by keeping simulation information 

in memory 

• Tools for immediate comparisons of 

results 

Control 

consistencies 

Run the 

process 

TUI manager 

(keep version and consistency) 

[ Figure 4: The FORECASTMOD principles ] 

Process selection 

DATA pretransformation 

ACCESS/SEARCH 

manager 

Definition of 

sepcifications 

Calibrating a model? Immediate! Just insert 

residual variables wherever you want, in the 

form you want, with the names you like. Solve 

the model as you run the normal dynamic version 

on the residuals: output will be saved in 

databases like any other simulation and all 

comparison, reporting tools will be available 

for them. 

9 


All brands and product names are trademarks or registered trademarks of their respective holders - © HENDYPLAN, Brussels, Bemgium 

1 

2

State of the art simulation methods: 

• Standard backward (NEWTON, relaxation), 

• Forward looking simulation (FAIR- 

TAYLOR, stack-time), 

• Simulate dynamic, 

dynamic equation by equation, 

static 

semi-static, 

• Losts of parameters to tune the simulation 

progress, more possibilities to go 

through non-convergence events. 

With TROLL, just pay attention to the system 

of equations and use all the integrated tools 

available to you. It is simply beautiful: flexible, 

efficient, with state of the art algorithms (see 

below). 

All kinds of simulations are possible: static every 

period or ‘semi-static’, dynamic equationby-equation, 

dynamic on the full system. 

By switching from static to dynamic step-bystep, 

you may avoid a lot of trouble in the 

convergence process; therefore, you will save 

time. 


Optimisation 

Advanced techniques to complement regressions and simulation 

Find out the stability of you model’s parameters, 

the best estimators of complex systems 

by defining your own objective function. Optimising 

on a maximum log-likelihood function 

is possible and thanks to the TROLL Programming 

Language, you will control any kind of 

surrounding effects. 

Efficiency: 

• Intensive use of RAM for speed, 

• Exogenise a variable in the simulation, 

• Tools for model structure analysis, 

• Selective storage of variables in databanks, 

• DEFINITION to avoid preparing a database 

for all symbols of the system. 

Don’t forget TROLL also has a stochastic simulator. 

Even if these kinds of simulations are 

costly, both with regard to the volume of output 

stored as well as RAM requirements, the 

simulator is optimised enough in terms of performance 

to make many exercises feasible on 

your computer. 

TROLL also contains a famous module for advanced 

modellers, called LKROOTS. Its aim is 

to perform eigenanalysis on a linearized version 

of the model, for both backward and forward-looking 

models. Analysis of the number 

of roots and their modulus will indicate perhaps 

an explosive growth mode on some variables 

of a backward model, or, for a forward-looking 

model, you will immediately verify if the system 

follows the “Blanchard-Khan” condition. 

This approach is for example applied in determining 

a set of coefficients, where some 

of them are constrained. The variance/covariance 

matrix may be produced as an output 

of the process. TROLL becomes a powerful research 

environment. 

10 




Reporting system 

So many techniques up to publication quality 

Many tools exist to produce tables and graphs 

with TROLL. Various levels of quality also exist, 

from the immediate display of a table in the 

TROLL output display, to the publication quality 

level in MS-EXCEL, called TROLL Advanced 

Reporting System. 

Output of 

commands 

Input of 

commands 

TROLL 

Editor 

Integrated 

graphs 

A wide range of graph types 

is available, including line 

graphs, symbols, (3D) bar 

graphs, (3D) pie charts, area, 

Gantt and polar graphs. A 

variety of options give you 

control over horizontal/ 

vertical grid, colour, border 

characteristics, headings, 

shading and scaling, 

including logarithmic scaling 

[ Figure 5: Integrated graphs in the TROLL standard interface ] 

and dual scale graphs. 

Legends are automatically 

created and a grid with the 

data value can be displayed 

under your graph. Any 

number of graphs can be 

automatically generated 

from a macro. 

The production of graphs is integrated in the 

TROLL interface, returning an MS-WINDOWS 

level of quality in the display, even with a TROLL 

on UNIX process (the interface continues to be 

an MS-WINDOWS interface). 

11 


Your customised graphs may 

be incorporated immediately 

into other MS-Windows 

applications using copy/ 

paste, or by exporting MS- 

Windows standard formats 

such as .BMP, .JPG formats. 

Furthermore, they are fully 

integrated in the TROLL 

Graphical User Interface 

(see figure 5). 


Designed by HENDYPLAN, the module allows 

both a menu-driven style of work and a 

MACRO computation for automated tasks. It 

is, for example, possible to change the style 

of the graphs from a windows-based user 

interface, but it is also possible to produce 

the details of the output from the MACRO 

level. 

TROLL also has an integrated module called 

TROLL Advanced Reporting System, which is 

able to draw fine reports in MS-EXCEL in an 

automated way,. The module allows you to 

prepare the style in the spreadsheet, using 

all features of MS-EXCEL. These styles are 

organised in libraries, ready to be shared 

across a team of TROLL users, within your organisation. 

You may then ask DATA to plug 

in the styles: the output will be a report in 

MS-EXCEL including all the design details 

you have expressed in the style sheets. This 


MULTIMOD and TROLL 

The IMF world model immediately available for you 

The International Monetary Fund (Washington-USA) 

has been developing the MULTI- 

MOD model for many years. HENDYPLAN 

is authorised to implement this multi-region 

model in your TROLL environment. This extremely 

valuable service is free of charge. The 

MULTIMOD model is one of the most famous 

references in rational expectations systems 

worldwide. Used by many modellers as a reference 

tool, MULTIMOD Mark III is the latest 

and most sophisticated version. 

MULTIMOD is managed by the Research 

Department of the IMF. Receiving MULTIMOD 

is also a means of receiving a database 

consistent with the World Economic Outlook. 

This database is then available for any other 

exercises in your environment. 

module is used to produce complete publications. 

In the end, users prefer to maintain 

their reports from the spreadsheet, rather 

than programming so many heavy routines, 

repeating nearly the same code with only a 

few differences for tuning certain details in 

output design. 

The system is mainly used by organisations 

to test national policies in an international 

environment. 

The equations of MULTIMOD are open 

to TROLL modellers, and any kind of 

customisation is possible. 

Using TROLL and MULTIMOD Mark III is the 

most appropriate solution for an immediate 

start with TROLL and rational expectations: 

MULTIMOD is supplied with a ready-to-use 

library of tools. It is a good framework before 

setting up your own modeling with rational 

expectations. 

12 




The TROLL editions 

Make it scalable… always a configuration suiting your need 

TROLL is available on many platforms: MS- 

WINDOWS, all major UNIX brands, LINUX. 

With the client/server version, you can reach 

any of your servers in the computer environment 

of your organisation. 

Various embedded editions are available, including 

the lower level all the time. 

TROLL Native Edition is the complete so-called 

TROLL library with the set of built-in functions, 

the modeling and programming languages, all 

econometric and modeling libraries, the basic 

reporting facilities, as well as table displays 

and graphs, HTML documentation. However, 

there is no interface with this edition, usable 

as a console session in WINDOWS NT or on 

UNIX, or on LINUX. 

TROLL Standard Edition is the previous level 

plus the standard developer interface. 

Graphical User 

Interfaces for 

DATA, models, 

econometrics, and 

advanced reporting 

Developer Graphical 

User Interface 

TROLL IS/Manager 

TROLL in ASSISTANT mode 

TROLL in Client Server 

Technology 

TROLL Standard 

(only standalone) 

TROLL Native 

(only standalone) 

TROLL in client/server technology offers a 

more user-friendly interface, where inputs/ 

outputs with the windows are 10 times faster 

than in the previous level. Extra libraries 

appear and the MS-EXCEL interface is 

included. 

TROLL in ASSISTANT mode offers more 

interfaces for a higher level of productivity: 

interface for DATA access, interface for 

management of regressions through a 

high level of control over the environment, 

interface for the TROLL Advanced Reporting 

System. 

TROLL IS/Manager is the most sophisticated 

edition, with the integration of TROLL to the 

Relational Database Management System interface 

and the integration of the metadata 

control. This level insures a high level of consistency 

in your work. 

13 


[ Figure 6: the TROLL Suite ] 

Relational 

databases 

MS-EXCEL 

interface 

Basic TROLL 

library 



Support 

Immediate bug corrections and availability of update 

All editions are made available with a 

permanent hotline through which we will 

answer your questions. We immediately take 

into account your bug reports and correct 

them in the same way, according to the 

complexity. 

The TROLL network 

The most advanced sites in modeling activity, worldwide 

TROLL is basically used in the networks of Central 

Banks, statistical offices, department of finance 

and universities, the major economics 

and finance research departments in large public 

or private organisations. From New York and 

Washington, to Frankfurt and Tokyo, via London 

both HENDYPLAN and INTEX SOLUTIONS, Inc. 

deliver high quality services and permanent as- 

As the software is rented, we make the releases 

available through various updates: a new official 

release on CDROM, or through a patch via 

email. The software installation is completely 

controlled by a setup with extensive HTML documentation 

to guide your software administrator. 

sistance to all TROLL users. Your satisfaction is 

our priority. 

TROLL can be found in every continent now. The 

customer base is a growing community with the 

same common aim to develop and strengthen 

their organisations by means of the most sophisticated 

package handling the time dimension 

and mathematics in economics and finance. 

TROLL: Your package for the complete 

integration of timeseries management 

• TROLL: a huge library to manipulate 

timeseries, multidimensional arrays, array 

timeseries. 

• TROLL: the most advanced OPEN SYSTEM; 

Link to TROLL any kind of external database, 

and any kind of external package. 

• TROLL: the node in your organisation for 

timeseries and applications management. 

TROLL is the smooth solution to dispatch 

the flows. 

• TROLL: the best solution for your research 

in econometrics and modeling; you read 

new research results in bibliography, 

use the TROLL Programming Language 

and test them; do the same with your 

assumptions. 

Put in your data warehouse the state of the art solutions in 

ECONOMETRICS and MODELING 

TROLL a unique product for your organisation 

14 



Table of contents 


The power of TROLL is… unlimited and portable .......................................................................................... 2 

Interface and programming language - User-friendly and extensible system ............................... 3 

Data management - Any DATA representation, best performance in computation ..................... 4 

Wide range of periodicities - TROLL is efficient in any environment with time dimension ..... 5 

Compatibility with external products - Use TROLL as a node for integration ................................. 6 

The modeling language and the MODEL - Advanced and no limitation on size ......................... 7 

Estimation - Maximum integration with all other modules ........................................................................ 8 

Simulation and forecasting - Definitively the state of the art ................................................................... 9 

Optimisation - Advanced techniques to complement regressions and simulation .................... 10 

Reporting system - So many techniques up to publication quality ..................................................... 11 

MULTIMOD and TROLL - The IMF world model immediately available for you ......................... 12 

The TROLL editions - Make it scalable… always a configuration suiting your need ................ 13 

Support - Immediate bug corrections and availability of update ........................................................ 15 

The TROLL network - The most advanced sites in modeling activity, worldwide ........................ 15 

HENDYPLAN Headquarters ...................................................................................................................................... 16 

HENDYPLAN Germany ................................................................................................................................................ 16 

HENDYPLAN France ...................................................................................................................................................... 16 

HENDYPLAN Luxembourg ......................................................................................................................................... 16 

Tables and figures 

Figure 1: Architecture of the modules ................................................................................................................. 2 

Figure 2: Various integrations of foreign formats in TROLL .................................................................... 6 

Figure 3: The MODELING LANGUAGE ............................................................................................................... 7 

Figure 4: The FORECASTMOD principles ........................................................................................................... 9 

Figure 5: Integrated graphs in the TROLL standard interface ............................................................ 11 

Figure 6: The TROLL Suite ........................................................................................................................................ 13 

Table 1: Classification of the TROLL functions .............................................................................................. 4 

Table 2: Types and organisations attached to the DATA object in TROLL ..................................... 4 

Table 3: The basic TROLL periodicities .............................................................................................................. 5 

Table 4: Some derived periodicities in TROLL ............................................................................................... 5 

15 



How to reach Hendyplan 

HENDYPLAN Headquarters 

30 rue des Combattants 

Strijdersstraat 30 

B-1082 Brussels 

Tel: +32 (2) 210 1570 

Fax: +32 (2) 210 15 79 

HENDYPLAN France 

147-149 rue St Honoré 

F-75001 Paris 

Tel: +33 (1) 40 20 40 72 

Fax: +33 (1) 42 60 27 46 

Note about Copyrights and trademarks: 

HENDYPLAN Germany 

E.P.J. GmbH 

Mainzer Landstr. 27 – 31 

D-60329 Frankfurt 

Tel: +49 (69) 27 401 58 54 

Fax: +49 (69) 27 401 51 11 

HENDYPLAN Luxembourg 

65 Avenue de la Gare 

L-1611 Luxembourg 

Tel: +352 26 64 44 -1 

Fax: +352 26 64 93 79 

Email: info@hendyplan.com - Web: http://www.hendyplan.com/ 

TROLL - The TROLL library as described in the TROLL Reference Manual - © Massachusetts Institute of Technology 1978-1987 and 

© INTEX, 1993 and beyond. 

TROLL Graphical User Interface - The TROLL interface as it is supplied with session input and output windows, the integrated 

editor for programs and graphs. © INTEX, 1994 and © HENDYPLAN, 1994 and beyond. 

HENDYPLAN TOOLBOX - A library of TROLL Programming Language functions and MACROS in various areas, including modeling 

and timeseries analysis. © HENDYPLAN, 1994 and beyond. 

GENERIC - A language to expand strings along space indexes. Mostly used to expand a model specification. 

© HENDYPLAN, 1994 and beyond. 

TROLL Client/server - A technique of communication between TROLL and its interfaces. © HENDYPLAN, 1994 and beyond. 

TROLL ASSISTANT - A module to help users in navigating inside the TROLL filesystem. © HENDYPLAN, 1996 and beyond. 

TROLL Advanced Reporting System - A system to produce advanced reports in MS-EXCEL from various kinds of templates as 

MS-EXCEL sheets. © HENDYPLAN, 1999 and beyond. 

FORECASTMOD - Interfaces to handle econometric methods in TROLL. © HENDYPLAN, 2002 and beyond. 

TROLL Direct-SQL - Implementation of the connectivity to Relational DataBase Management Systems. 


TROLL IS/Manager - An integrated environment controlling metadata beside TROLL or FAME databases. 


TROLL Server Administration Tool - Module to manage users and profiles through the server. © HENDYPLAN, 2001 and beyond. 

TROLL Web-Model Generator and Browser - A module to create a TROLL models in a web format, plus its system to query in 

model components (symbols, equations, model block-ordering, etc). © HENDYPLAN, 2003 and beyond. 

AREMOS: Econometric, Modelling, and Data Management Software, Copyrights and TM Global Insight Inc. 

FAME: Fame is a fully integrated software and database management system; © SunGard Data Management Solutions. 

LINUX: Operating System from © Linux Online Inc. 

MS-EXCEL: Spreadsheets software, Microsoft® Excel, Copyright © Microsoft Corporation 

UNIX: from UNICS (Uniplexed Information and Computing Service) 

MS-Windows: Operating System, Microsoft® Windows, Copyright © Microsoft Corporation 

www.hendyplan.com - info@hendyplan.com - BRUSSELS - FRANkFURT - LUXEMBOURG - PARIS - TEL: +352 26 64 44

TROLL - Impression.be

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