This scoping paper aims to present a summary of the past and present macroeconometric models of the Philippine economy. This paper looks at the various approaches and methodology used in modelling the economy. The various approaches were compared and contrasted in order to find the best possible...

Lawrence R. Klein was the father of macro-econometric modeling, the scientific practice that dominated macroeconomics throughout the second half of the twentieth century. Therefore, understanding how Klein developed his identity as a macro-econometrician and how he conceived and forged...

This Chapter reviews econometric methods that can be used in order to deal with the challenges of inference in high-dimensional empirical macro models with possibly “more parameters than observations”. These methods broadly include machine learning algorithms for Big Data, but also more...

The iterated Bornhuetter-Ferguson loss reserving method generates an infinite sequence of reserve formulas, with the chain ladder and Bornhuetter-Ferguson formulas at opposite extremes. The sequence also contains the Benktander-Hovinen formula. Although the literature contains parametric...

This study documents a semi-structural model developed for Sri Lanka. This model, extended with a fiscal sector block, is expected to serve as a core forecasting model in the process of the Central Bank of Sri Lanka's move towards flexible inflation targeting. The model includes a...

This paper aims to bring out the determinants of significant poverty alleviation observed in Cameroon between 1993 and 2001. It focuses on the decomposition of poverty and growth changes, in order to assess the intrinsic contribution of each major economic policy implemented in Cameroon during...

The main objective of this paper is to assess the potential effects of the WTO agreements on income distribution and welfare in Côte d'Ivoire. For this purpose, a dynamic CGE model is used to analyze the impacts of three scenarios ranging from partial and complete unilateral trade...

We estimate with Bayesian techniques the Italian dynamic General Equilibrium Model (IGEM), which has been developed at the Italian Treasury Department, Ministry of Economy and Finance, to assess the effects of alter-native policy interventions. We analyze and discuss the estimated effects of...

In this paper, we introduce the simulated maximum likelihood method for identifying behavioral heuristics of heterogeneous agents in the baseline three-equation New Keynesian model. The method is extended to multivariate macroeconomic optimization problems, and the estimation procedure is...

We propose a simple risk-adjusted linear approximation to solve a large class of dynamic models with time-varying and non-Gaussian risk. Our approach generalizes lognormal affine approximations commonly used in the macro-finance literature and can be seen as a first-order perturbation around the...