Roughly, the model can be described as follows. The production structure has been the focus of the recent research efforts resulting in the current version of the model. The theoretical foundation of the model assumes optimising behaviour of firms in 18 industries. On the labour market, the negotiation process for wages follows a right-to-manage approach. On the demand side, most consumers behave as in life-cycle theory, but some consumers are liquidity constrained. In the last block, the public sector (government, social security and pensions), some aspects are endogenised as the model is primarily aimed at long run structural analyses.

The applications of the model include CPB's latest long term scenarios for the Dutch economy, the analysis of a set of policy measures concerning lower corporate tax rates and the effects of five standard simulations.

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Paper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Documents with number 105.

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Date of creation: Jan 2006
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Handle: RePEc:cpb:docmnt:105

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Related research

Keywords: multi-sector model; production structure; scenarios; policy simulations;

Find related papers by JEL classification:
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Other Model Applications

This paper has been announced in the following NEP Reports:

• NEP-ALL-2006-03-18 (All new papers)
• NEP-EEC-2006-03-18 (European Economics)

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