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Working Paper 03-09 - S3BE : un modèle macroéconomique de long terme pour l’économie belge

Author

Listed:
  • Igor Lebrun

Abstract

Several legal missions from the Federal Planning Bureau require the construction of long-term macroeconomic scenarios for the Belgian economy. In order to increase the consistency of these scenarios and to build them within a rigorous theoretical framework, it appeared important to develop a new long-term model that considers economic growth as depending upon the supply of production factors.The theoretical structure of the model draws on similar work done by the Dutch CPB. In the working paper we detail the construction, the properties and the estimation of the parameters based upon quarterly data from the Belgian national accounts. The model should contribute for instance to the production of long-term macro-economic scenarios to evaluate the budgetary cost of ageing.

Suggested Citation

  • Igor Lebrun, 2009. "Working Paper 03-09 - S3BE : un modèle macroéconomique de long terme pour l’économie belge," Working Papers 200903, Federal Planning Bureau, Belgium.
    • Handle: RePEc:fpb:wpaper:200903
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    More about this item

    Keywords

    Economic growth; Long-term projection; Supply-side;
    All these keywords.

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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