This working paper after quickly reviewing the different types of existing macro models presents some basic tools that have proved useful for analysing monetary policy in recent years. Through the use of a simple quantitative forward-looking model of output, inflation and interest rate...

This paper presents a new quarterly macroeconometric model of the Belgian economy. It is intended to contribute to existing analytical work covering the specific transmission mechanisms of the euro area monetary policy in the Belgian economy. It also contributes to the forecast exercises and to...

This paper analyses the path of private consumption and its main macroeconomic determinants. These are related to the life-cycle approach which helps explaining consumption smoothing. In that respect, it is important to go beyond the simple correlation between current disposable income and...