This paper introduces the latest addition to the modelling toolkit of the Central Bank of Malta: a static Computable General Equilibrium model for Malta named MaCGE-MOD. Developed through a collaboration with the University of Macerata, the model is a multiinput, multi-output and multi-sector...

The study presents the first published estimates of industry specific multipliers which are derived utilizing a highly disaggregated symmetric input-output table for the Maltese Economy for 2008 which adheres to Eurostat System of National and Regional Accounts (1995). The application of...

This paper assesses the extent of change in the production structure of the Maltese Economy on the basis of three symmetric input-output tables via the application of hypothetical extraction analysis.

Economic policies are generally formulated on the basis of data available in real time, which might subsequently be revised. Implicitly, the possibility of data revisions creates an element of uncertainty around the very same data driving policy decisions. Given that such uncertainty could be...

In recent years the housing market in Malta has been characterised by significant demand and supply developments reflecting strong economic and population growth. While the determinants of house prices in Malta have long been studied and documented, much less is known about private sector rents,...

Exchange Rate Pass-Through (ERPT), commonly defined as the extent to which exchange rate changes are reflected in the price levels of an economy, has important implications in a number of policy-relevant areas. Despite this, estimates of ERPT in the Maltese economy are scarce and do not take...

This paper documents the extension of MEDSEA, a small open economy DSGE model for Malta, with a detailed energy sector. The model contains relatively rich fiscal and energy blocks allowing the model to simulate the transitional costs related to the economy's decarbonisation, together with the...

This paper presents the third version of the Central Bank of Malta's core macro-econometric model of the Maltese Economy, STREAM (Structural and TRaditional Econometric model for Malta). It is a traditional structural model built around the neo-classical synthesis. Behavioural equations are...

This paper describes MEDSEA, a compact small open economy DSGE model of the Maltese economy. The model is similar in nature to other small open economy models, thus containing a number of nominal and real frictions allowing the model to replicate the sluggish reaction of economic variables...

This paper documents the fiscal extension to MEDSEA, the Central Bank of Malta DSGE model. The model contains a relatively rich fiscal sector. Decisions made by the agents in the model are affected by distortionary taxes on labour income, capital income and consumption. On the expenditure side,...