Policy-oriented Economic Modeling

PEGNet and the Ministère de l’Économie et des Finances (MEF) with support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) organized a Methodological Workshop on Policy-oriented Economic Modeling.

Trainer: Manfred Wiebelt, Kiel Institute for the World Economy

The overall objective of this training was to strengthen capacities and impart skills for the development and evaluation of evidence-based policy reforms in Benin. The training integrated general equilibrium theory, country-level data, hands-on computer work, and real-world applications to the Rwandan economy. Participants were introduced to the micro, macro and trade theories that underlie typical Computable General Equilibrium (CGE) models, learnt how to implement a model and how to run it. Finally, participants were exposed to relevant policy issues and areas that benefit from the use of these models. Examples of modeling applications included analysis of trade and public finance in Benin under alternative macro closures (I-S, public budget, balance-of-payments), productivity and world price shocks, and capital in- and outflows on Benin’s economic structure.