This Working Paper is aimed at describing the current version of Federal Planning Bureau's medium-term macrosectoral model, named HERMES. This model is used to produce on a regular basis medium-term outlooks for the Belgian economy. In addition to the main macroeconomic aggregates (GDP, private...

The Flemish economy is a very open economy and as such heavily relies on trade with both the neighbouring economies as well as more distanced economies and it also tries to attract foreign direct investments. The paper reviews the evolution and interrelation of some competitiveness indicators in...

Regional GDP is a key indicator in the assessment of the economic performance of the Belgian regions. But for assessing the wealth of a certain region, another important indicator is the household disposable income.In this paper the evolution since 1985 and the level of regional per inhabitant...

HERMREG is a regional econometric model for Belgium. It provides midterm forecasts for the three Belgian regions (the Brussels Capital Region, the Flemish Region and the Walloon Region) on a sectoral level. The model started off as a top-down model, but recently the model has been enriched with...

The objective of this paper is twofold. The first focus is on a productivity analysis, including an assessment of the impact on productivity of investments in capital, labour and other inputs (energy, material). To this end a growth accounting system is developed, although this is more than an...