Quantifying the Effects of Economic Policies
What influence do such measures have on economic performance, employment, which sectors and occupational groups are most affected or how do they affect household consumption? These are just a few of the questions that can be answered 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 there in the 1980s, and today the Institute is a leader in model development and application, working on behalf of public authorities and private companies worldwide.
WIFO brought together 17 participants from all over the world to spend a week with CoPS-experts learning how to carry out simulations of policy impacts. Simulation exercises included possible effects of a "Hard Brexit" on the UK and Austria but also the impacts of an increase in the labour supply in Austria due to increased immigration.
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