North Macedonia develops new DSGE model
Analytical tool to supplement existing models built in conjunction with CNB and IMF
The National Bank of the Republic of North Macedonia has built a new structural economic model to supplement its monetary policy-making toolkit.
The dynamic stochastic general equilibrium (DSGE) model was developed with support from the Czech National Bank and the International Monetary Fund (IMF). It will be used to analyse the effect of shocks on the North Macedonian economy, to help devise and explain monetary policy decisions, and for research.
The model shares many characteristics with other
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