March 2011 marked the introduction of the Magyar Nemzeti Bank’s Monetary Policy Model (MPM), representing a paradigm shift in both macroeconomic projection and monetary policy decision support. In contrast to previous conditional projections, the MPM provides an endogenous definition of both...

Die Grundzüge der Wirtschaftspolitik formulieren die Antwort der EU-Regierungen und der Kommission auf die Wachstums- und Beschäftigungsschwierigkeiten in Europa. Obwohl damit seit mehr als zehn Jahren ein wirtschaftspolitisches Konzept für die Europäische Union vorliegt, haben die dort...

The Broad Economic Policy Guidelines contain the answers of the European Commission and the governments of the EU-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for around ten years now. They can be seen as a...

The paper aims at determining upper boundaries of accuracy ("error minima") for German macroeconomic forecasts. The study is based on simulations with the RWI-model, a medium sized macroeconometric model for the FRG. A first upper limit of forecast accuracy is fixed by the accuracy of...

Mesange is a quarterly macro-econometric model of the French economy. This model has been developed and is used jointly by INSEE and the French Treasury. This working paper presents the new version of the model. The data used in the re-estimation process are those of the National Accounts base...

This document gives a detailed account of the current version of the Hungarian Quarterly Projection Model (NEM). It describes the main building blocks, presents the forecast performance of the model and, finally, it illustrates the responses to the most important shocks the Hungarian economy may...

Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. Latvia's incoming in EU increased the amount of received means from structural...

The paper revises the previous author’s estimates of the medium-term evolution of the Romanian economy. It is organized in three chapters. The first examines the most important crisis and post-crisis problems of Romania. The analysis is developed preponderantly from a structural point of view....