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350405

Evolution and Implementation of Macroeconometric Modeling: A Roadmap for INP’s Modeling Unit

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Last updated: 05 Jan 2025

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Abstract

Macroeconomic modeling is essential for policymaking and economic analysis. This paper examines the role of macroeconomic models in informing policy decisions, with a focus on the Institute of National Planning's (INP) Modeling Unit (MU) in Egypt. Two central questions guide the discussion: which models should the MU prioritize, and what steps are necessary for successful model development? The paper begins by reviewing the evolution of macroeconometric modeling globally, offering insights into the evolution of economic theory, technological advancements, data availability, and methodological approaches that have shaped modeling practices globally. It then delves into Egypt's macroeconomic modeling history, examining past initiatives and drawing lessons for the MU's future endeavors and policy-making efforts. Finally, the paper proposes a roadmap for the MU to develop high-quality models that contribute to Egypt's sustainable economic growth, emphasizing clear objectives, appropriate model selection, long-term strategy, and building trust in research outcome.

DOI

10.21608/inp.2024.350405

Keywords

Macroeconomics, Macroeconometric Models, CGE Model, INP-MU

Authors

First Name

Sherine

Last Name

Al-Shawarby

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Affiliation

Professor of Economics at Cairo University, currently Seconded to Nile University.

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First Name

Noha

Last Name

S. Omar

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Affiliation

Assistant Professor at Cairo University, currently Seconded to American University in Cairo

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Volume

32

Article Issue

1

Related Issue

47148

Issue Date

2024-03-01

Receive Date

2024-04-16

Publish Date

2024-03-01

Page Start

157

Page End

138

Print ISSN

1110-984X

Online ISSN

2785-9940

Link

https://inp.journals.ekb.eg/article_350405.html

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https://inp.journals.ekb.eg/service?article_code=350405

Order

350,405

Type

المقالة الأصلية

Type Code

1,811

Publication Type

Journal

Publication Title

المجلة المصرية للتنمية والتخطيط

Publication Link

https://inp.journals.ekb.eg/

MainTitle

Evolution and Implementation of Macroeconometric Modeling: A Roadmap for INP’s Modeling Unit

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Article

Created At

28 Dec 2024