A Simple Macrofiscal Model for Policy Analysis: An Application to Cambodia

Daniel Baksa, Ales Bulir and Dyna Heng

No 2020/202, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 37
Date: 2020-09-25
New Economics Papers: this item is included in nep-mac and nep-sea
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Citations: View citations in EconPapers (2)

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Journal Article: A Simple Macro-Fiscal Model for Policy Analysis: An Application to Cambodia (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2020/202

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