Economic Science and Practice seeks to bridge the gulf between economic theory and policy and overcome some of the problems created by the specialized nature of much economic research. A distinguished group of academic economists and experienced policy makers from both Europe and the United...

This insightful book focuses on the economic consequences of structural reform policies in the economies at the cutting edge of reform: Denmark, The Netherlands, New Zealand and Norway.

Better policy coordination between Europe, Japan, and the United States is urgently needed in order to restore economic growth and to diminish mutual trade imbalances. Using the EC Compact model it is shown how coordinated fiscal policies can contribute to reaching these goals in the 1990s. For...

This paper describes the model of the Bulgarian economy designed, formulated and constructed within the Bulgarian Agency for Economic Analysis and Forecasting. The model is an annual model, although some of the parameters are estimated on the basis of quarterly information. Its main feature is...

Economic models can be extremely useful in the process of economic policy making. At the same time it should be emphasised that economic models should never be seen as a panacea for solving all kinds of economic problems. This paper discusses to what extent economic models could act as a useful...

The main purpose of this paper is to be of assistance in understanding the working of the AEAF model. To this end we will explain in section 2 how in the simulations levels and percentages changes are treated as well as the important difference between stocks and flows. Section 3 deals with the...