IMF Working Papers

A Simple Macrofiscal Model for Policy Analysis: An Application to Cambodia

By Daniel Baksa, Ales Bulir, Dyna Heng

September 25, 2020

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Daniel Baksa, Ales Bulir, and Dyna Heng. A Simple Macrofiscal Model for Policy Analysis: An Application to Cambodia, (USA: International Monetary Fund, 2020) accessed October 3, 2024

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Summary

The paper describes a semistructural macrofiscal approach to simulating and forecasting macroeconomic policies. Our canonical model is adapted to Cambodia and we demonstrate its application with an illustrative scenario of macroeconomic effects of the Covid-19 pandemic. Complemented with near-term forecasting tools and expert judgment, the dynamics of the model helps to inform policymakers about medium-term transmission channels and thus guide policy advice.

Subject: Exchange rates, Financial services, Foreign exchange, National accounts, Output gap, Production, Real exchange rates, Real interest rates, Return on investment

Keywords: Aggregate supply, Business cycle, Cambodia, Central bank, Country risk, Exchange rate regime, Exchange rates, Fiscal Multiplier, Fiscal Policy, Global, NBC monetary policy option, Nominal exchange rate, Output gap, Potential GDP, Reaction function, Real exchange rates, Real interest rates, Return on investment, Transmission mechanism, WP

Publication Details

  • Pages:

    37

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2020/202

  • Stock No:

    WPIEA2020202

  • ISBN:

    9781513556857

  • ISSN:

    1018-5941