A tool for supporting economic policy-making in the former Yugoslavia. Documentation and applications of a macroeconomic multi-country model

Abstract: The book describes a quarterly macroeconometric multi-country model for Croatia, Bosnia and Herzegovina, Slovenia and Serbia. The model is tested by evaluating its ability to reproduce the endogenous variables in an ex post simulation. Furthermore, economic policy simulations are performed to analyse (i) isolated vs. coordinated fiscal policies, (ii) the future of the euro area and impacts on Slovenia and Serbia, (iii) budgetary consolidation strategies for Slovenia, (iv) how to cope with population ageing, and (iv) impacts of Croatia's EU accession.
Table of Contents: Introduction; From Yugoslavian Disintegration to European Integration; Macroeconomic Modelling; Modelling and Estimation Procedure; Linking the Individual Country Models to a Multi-country Model; The Individual Country Models; Model Evaluation; Policy Simulations; Conclusions;
References; Appendix;