Quantifying the Economic Effects of Policy Measures. Modelling Short Course in Cooperation with the Centre of Policy Studies

Oliver Fritz

30.06.2023

Quantifying the Economic Effects of Policy Measures

Modelling Short Course in Cooperation with the Centre of Policy Studies

From 19 to 23 June 2023, WIFO hosted a workshop taught by the Australian Centre of Policy Studies (CoPS). The workshop focused on CGE (Computable General Equilibrium) models. These models are applied to quantify the economic effects of policy measures.

What influence do such measures have on sectoral output and employment? Which sectors and occupational groups are most affected? What is the impact on household consumption? These are just a few of the questions that can be answered by using such models.

The staff of the CoPS in Melbourne, Australia, are among the pioneers in this field. The first CGE models were already developed in a predecessor of CoPS in the 1970s. Today, CoPS is a leader in model development and application, working on behalf of public authorities and private companies worldwide.

WIFO brought together participants from all over the world to spend a week with CoPS-experts learning how to carry out and analyse simulations of policy impacts. The course concluded with participants running simulations using a multi-regional model of Europe.