Author/Editor: Victoria Babajanyan, Daniel Baksa, Martin Fukac, Eduard Hakobyan, Arshaluys Harutyunyan, Narek Karapetyan, Babken Pashinyan, Garik Petrosyan, Luis-Felipe Zanna.

Release Date:June, 2022

This paper presents an overview of the Ararat Fiscal Strategy Model (AFSM), which is a structural, New-Keynesian, DSGE, small open economy model with a rich fiscal block that includes several more...

Author/Editor: Maximilien Queyranne, Daniel Baksa, Vassili Bazinas, Azhin Abdulkarim.

Release Date:October, 2021

This paper finds that the neutral interest rate has been on a downward trajectory in Morocco since the global financial crisis and may have fallen in the wake of the pandemic. In that context, more...

Author/Editor: Daniel Baksa, Ales Bulir, Roberto Cardarelli.

Release Date:July, 2021

The paper describes a semistructural macrofiscal approach to simulating and forecasting macroeconomic policies. The model focuses on only a few variables that are consistent with the New Keynesian more...

Author/Editor: Daniel Baksa, Ales Bulir, Dyna Heng.

Release Date:September, 2020

The paper describes a semistructural macrofiscal approach to simulating and forecasting macroeconomic policies. Our canonical model is adapted to Cambodia and we demonstrate its application with an more...

Author/Editor: Daniel Baksa, Zsuzsa Munkacsi, Carolin Nerlich.

Release Date:July, 2020

Several European countries are currently considering reversing parts of their pension reforms that were adopted previously to improve sustainability. In this paper we present a framework that allows more...

Author/Editor: Daniel Baksa, Zsuzsa Munkacsi.

Release Date:September, 2019

The evidence on the inflation impact of aging is mixed, and there is no evidence regarding the volatility of inflation. Based on advanced economies’ data and a DSGE-OLG model, we find that aging more...