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Economic Studies

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Technical support and specialized advice for the elaboration of the macroeconomic forecasts of Catalonia and for the support in the works that require econometric analysis and the formation in the general equilibrium model Quest III

Department of the Vice-Presidency and Economy and Finance of the Generalitat of Catalonia
2018 / 2019 / 2020
Principal investigator Raul Ramos / Jordi Suriñach
Investigative team Raul Ramos / Jordi Suriñach
Objective

Define the technical conditions that should govern the execution of the macroeconomic forecast contract in Catalonia, the advice for the development of the econometric analysis and the training in the Quest III general equilibrium model adapted to the Catalan economy.

Macroeconomic forecasts are made of the Catalan economy, as well as the Quest III assimilation model applied to the Catalan economy. The staff of the Vice-Presidency Department has also been trained in these models.

Methodology

This work is done in three blocks:

Part A: Preparation of macroeconomic forecasts for Catalonia. Develop models of forecasting and projection of the main macroeconomic variables of the Catalan economy through two fairly widespread approaches in the literature: model based on a system of equations on the demand side, based on error correction equations and BVARX model.

Part B: Advice on the work carried out in the General Directorate of Economic Analysis that requires econometric analysis and training in the Quest III general equilibrium model adapted to the Catalan economy.

Part C: Set of recommendations and improvement proposals on the methodology used so far.

Reference: Theme: Macroeconomic simulations and forecasts Ambit: Regional