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The Role of Macroeconomic Models in the Policy Design Process

Published online by Cambridge University Press:  26 March 2020

Peter F. Westaway
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Extract

This note examines the role of macroeconomic models in the policy design process. It discusses some of the general issues that need to be addressed if macroeconomic models are to make an important contribution to the policy debate. More topically, it illustrates the role that can be played by using policy optimisation techniques on the National Institute UK model to examine some of the macroeconomic policy options currently facing policymakers.

Type
Articles
Information
National Institute Economic Review , Volume 151 , February 1995 , pp. 53 - 64
Copyright
Copyright © 1995 National Institute of Economic and Social Research

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