498 - Policy making and model development: the case of the Nederlandsche Bank's model MORKMON

Wetenschappelijke publicatie
Date 6 April 1997

This study has been prepared for the congress on 'Empirical Models and Policy Making', organised and hosted by the Tinbergen Institute, Amsterdam, 14-16 May, 1997. It offers an analysis of the interaction between model development and model use and policy making, with a special focus on the macroeconomic policy model of the Nederlandsche Bank, MORKMON. The interaction process is also viewed against the background of modern developments in macroeconomics and econometrics and new modelling trends.