Previous work has used neural networks to predict the rate of inflation in Taiwan using four measures of ‘money’ (simple sum and three Divisia measures). In this work a new approach is developed that uses an evolutionary strategy as a predictive tool. This approach is simple to implement yet produces results that compare favourably with the neural network predictions. Our preferred inflation fo...

Feedback into the broader policy debate in macroeconomic and related structural areas remains limited. However, when a more informed debate and broadening of the policy space did take place on these issues, the policy outcome was generally positive. In contrast, when controversial issues involving difficult trade-offs were avoided during the PRS process, the consequences for “downstream” polici...

In this paper we study macroeconomic stabilization in the Economic and Monetary Union (EMU) using a dynamic game approach. With the aid of a stylized macroeconomic model, this paper analyzes the transmission and interaction of national fiscal policies and monetary policy of the European Central Bank (ECB) in the EMU. A special focus is on the effects of labor market institutions in the particip...

This paper presents India’s economic growth by comparing it to that of the United States. In addition, this paper analyzes current events in India under a macroeconomic lens as it provides the macroeconomic impacts of said events. More specifically, this paper focuses on the ways in which unexpected severe flooding have impacted Northern India in the short-, medium-, and long-run. Analyses conc...

usiness cycle, Fiscal policy, Cambodia, Forecasting, Simulation, Debt management. Macroeconomic management in many developing countries is often heavily dependent on fiscal policies. This paper develops a semi-structural macro-fiscal model for simulating and forecasting macroeconomic policies Cambodia. The calibrated to capture key characteristics of Cambodia’s economy serves as tool scenario a...

This paper examines the design of macroeconomic policies after the enlargement of the EU by Central and Eastern European countries (CEECs). We consider scenarios with and without CEECs being members of the European Economic and Monetary Union (EMU). For the European Central Bank, we analyze consequences of monetary versus inflation targeting. For European fiscal policies, we assume that the gov...

This paper develops and simulates a dynamic general equilibrium macroeconomic model to analyze the likely impact of oil production and revenue rehabilitation on the Libyan economy, under different government fiscal policy responses. The model is ideally appropriate to analyze macroeconomic issues in oil-producing developing countries. In particular, it is capable of incorporating alternative go...

• Canada’s lengthy experience with a flexible exchange rate regime has had an important impact on the development of macroeconomic theory and policy in open economies. • This article focuses on the 1950–62 floating-rate period because the flexible exchange rate, combined with a high degree of capital mobility between Canada and the United States, provided an unprecedented experiment for macroec...