18.09.2019

Quantifying the Effects of Economic Policies

Modelling Workshop in Cooperation with the Centre of Policy Studies
From 9 to 13 September 2019, a workshop organised by the Australian Centre of Policy Studies (CoPS) took place at WIFO. The workshop focused on so-called CGE models (Computable General Equilibrium Models). These models are applied to quantify the macroeconomic effects of policy measures.

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.

https://www.copsmodels.com

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