The paper analyzes the effects of different reactions of fiscal (and to some extent monetary) policies to the Great Recession in Slovenia. We use the model SLOPOL8.1, an econometric model of the Slovenian economy, to simulate the effects of the global crisis under the assumption of no-policy...

In this paper, we investigate the trade-off between the need for budget consolidation and the desirability of expansionary fiscal policies as a means of demand management by simulating alternative scenarios with a macroeconometric model of the Slovenian economy. The simulations show that for the...

In this paper, we simulate a macroeconometric model of Slovenia over the period 2012–2060, using the projected demographic development as input, and determine time paths for budgetary and macroeconomic variables under alternative assumptions about Slovenian policy instruments so as to limit...

In the case of U. S. agricultural policy, this paper shows how governmental intervention can be formally incorporated in a conditional-vector-error-correcting model. From the resulting theoretical framework and empirical analysis, formal hypotheses are tested regarding both forward and backward...

Policy preference functions (PPFs) explicate trade-offs among various political economic groups concerned with the policy process. Estimation methods for PPFs are detailed. The stochastic nature of PPF parameters is discussed and a method for developing standard errors is introduced. Hypothesis...