Preliminary study on macroeconomic and budgetary forecasting methodologies

At the request of the Fiscal Council of Hungary, we prepared a preliminary study on the development of a macromodel, which would strenghten the analytical capabilities of the institute as well as enable it to provide various forward looking analyzes, projections, bases and alternative scenarios. In our study, we proposed the main elements  and main characteristics of a macromodel that can be used by the Fiscal Council. In addition to the model for short-term macroeconomic forecasting, we also analyzed how the large investment in Paks can be incorporated into the model we have developed.
Commissioner: Fiscal Council of Hungary
Prepared by: Éva Palócz, Péter Vakhal.
Budapest, 31 October, 2014.

The study is available here in Hungarian.