Using Macroeconomic Frameworks to Analyze the Impact of COVID-19 : An Application to Colombia and Cambodia / Ales Bulir.

Format
Book
Language
English
Published/​Created
Washington, D.C. : International Monetary Fund, 2021.
Description
1 online resource (30 pages)

Details

Author
Series
  • Technical Notes and Manuals; Technical Notes and Manuals ; No. 2021/001 [More in this series]
  • Technical Notes and Manuals
Summary note
This technical note and manual (TNM) addresses the following issues: -- Evaluating the full implications from the policies adopted to mitigate the impact of the COVID-19 pandemic on the economy requires a well-developed macroeconomic framework. This note illustrates how such frameworks were used to analyze Colombia and Cambodi's shock impact at the beginning of the pandemic. -- The use of macroeconomic frameworks is not to infer general policy conclusions from abstract models or empirical analysis but to help policymakers think through and articulate coherent forecasts, scenarios, and policy responses. -- The two country cases illustrate how to construct a baseline scenario consistent with a COVID-19 shock within structural macroeconomic models. The scenario is built gradually to incorporate the available information, the pandemic's full effects, and the policy responses. -- The results demonstrate the value of combining close attention to the data, near-term forecasting, and model-based analyses to support coherent policies.
Source of description
Description based on print version record.
Doi
  • 10.5089/9781513571973.005
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