In this paper, we present a model-based method for identifying fiscal closure rules in stochastic macroeconomic models. The methodology is based on the stability analysis of the model at hand, with an endogenous derivation of a reaction on the part of the fiscal authority to state variables in...

In this paper, we present a model-based method for identifying fiscal closure rules in stochastic macroeconomic models. The methodology is based on the stability analysis of the model at hand, with an endogenous derivation of a reaction on the part of the fiscal authority to state variables in...

Specific features of quarterly econometric model for Montenegro are dealing with the euroization of the economy, de facto separation of Montenegrin economy from Serbian economy. The model is specified with final demand as driving force of the economic growth, but, in addition, with some specific...

The MacSim package is designed for teaching macroeconomics, focusing on international trade. It uses a set of simplified models, describing the economy of countries belonging to the European Union. It brings together single-country mechanisms, including some financial elements, and international...

The paper presents the procedure and two structural macroeconometric models used at the National Bank of Poland for producing regular quarterly inflation projections. One of the models is a small macroeconomic model based on the New Keynesian Phillips curve, the IS curve and the exchange rate...

The paper reviews the literature on the evaluation of the macroeconomic of the EU Structural Funds and it focuses on the macroeconomic models used by the European Commission for the assessment of the Objective 1 Community and Structural Frameworks. It emerges that more detailed Structural Funds...

The introduction to Volume 52, Number 4 (and 5) of Finance a uver’s selected topic: macroeconomic modelling in the Czech Republic. The authors introduce the issue with a survey of macroeconomic modelling in Czech economic literature. The journal’s articles are mostly devoted to the results...

Fiscal policy constitutes a key tool for business cycle stabilisation next to monetary policy. In this context, having a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper documents the fiscal block of the ECB-BASE, which is a...

Fiscal policy constitutes a key tool for business cycle stabilisation next to monetary policy. In this context, having a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper documents the fiscal block of the ECB-BASE, which is a...