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- W1583413087 abstract "Abstract In the Netherlands, empirical macroeconomic models have been used for policy analysis and forecasting ever since Tinbergen's first 24-equation model of the Dutch economy in 1936. The current macroeconomic model of the Central Planning Bureau, the Dutch official scientific advisory body for government economic policy, is presented in this paper. Demand equations follow traditional Keynesian lines and the supply side is described with a vintage production function. Disequilibrium regimes may occur on the product and labour market and feed back into eg price and wage formation, investment and labour demand. An elaborate public sector system and a financial portfolio submodel also form parts of the model. This paper provides a description of the model, paying attention to the slow down of labour productivity growth, a discussion of forecasting methodology, a report on the simulation properties of the model and a cliometric application studying the impact of international stagflation on the Dutch economy in 1973–1984. The results clearly demonstrate the high dependence of the Netherlands' small open economy on developments abroad and the importance of real wages for the employment situation." @default.
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- W1583413087 date "1988-07-01" @default.
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- W1583413087 title "The FREIA—KOMPAS model for the Netherlands" @default.
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- W1583413087 doi "https://doi.org/10.1016/0264-9993(88)90001-6" @default.
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