The World Bank's MFMod Framework in Python with Modelflow

MFMod is the World Bank’s work-horse macro-structural economic modeling framework. It exists both as a linked system of 184 country-specific models that can be solved independently or as a larger system (MFMod), and as a series of standalone customized models, known collectively as MFMod Standalones (MFModSA). These Standalone models have been developed from the central model to fit the specific needs of individual countries. Both the central and Standalone models were developed using the EViews modeling language, and are run in that environment directly or through the intermediation of an easy-to-use excel front-end developed by the Bank. The main MFMod global model evolved from earlier macro-structural models developed during the 2000s to strengthen the basis for the forecasts produced by the World Bank. Some examples of these models were released on the World Bank’s isimulate platform https://isimulate.worldbank.org early in 2010, along with several CGE models dating from this period. These earlier models were substantially extended into what has become the main MFMod model. Since 2015, MFMod has been the Bank’s main tool for forecasting and economic analysis, and is used by all of the Bank’s country economists for the World Bank’s twice annual forecasting exercise The Macro Poverty Outlook (https://www.worldbank.org/en/publication/macro-poverty-outlook)