A Simple Macrofiscal Model for Policy Analysis: An Application to Cambodia
A Simple Macrofiscal Model for Policy Analysis: An Application to Cambodia
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Volume/Issue:
Volume 2020
Issue 202
Publication date: September 2020
ISBN: 9781513556857
$18.00
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Topics covered in this book
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Banks and Banking , Investments and Securities-General , WP , nominal exchange rate , potential GDP , country risk , aggregate supply , reaction function , business cycle , transmission mechanism , exchange rate regime , central bank , Real exchange rates , Exchange rates , Real interest rates , Return on investment , Output gap , Global , Fiscal Policy , Cambodia , Fiscal Multiplier , NBC monetary policy option
Summary
The paper describes a semistructural macrofiscal approach to simulating and forecasting macroeconomic policies. Our canonical model is adapted to Cambodia and we demonstrate its application with an illustrative scenario of macroeconomic effects of the Covid-19 pandemic. Complemented with near-term forecasting tools and expert judgment, the dynamics of the model helps to inform policymakers about medium-term transmission channels and thus guide policy advice.
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