Models and macroeconomic policy in the Netherlands

Peter A.G. van Bergeijk, Jarig van Sinderen

Research output: Chapter/Conference proceedingChapterAcademic

1 Citation (Scopus)

Abstract

This chapter uses concepts of the industrial organization literature to investigate the Dutch macro modelling industry. For a long time, this industry was characterized by a virtual monopoly in the market for semi-official macroeconomic forecasts and policy analysis. We identify rents in terms of prestige, information and impact on economic policy. To a large extent, these rents explain why entry in this market occurred. Two case studies, on fiscal policy and competition policy, illustrate how policy makers and model builders interacted. These structural policies could not be analysed by the official model(s) and were only investigated in modelling exercises by relative outsiders. Finally, we discuss some policy implications of more competition in this modelling industry.

Original languageEnglish
Title of host publicationEmpirical Models and Policy-Making
Subtitle of host publicationInteraction and Institutions
PublisherTaylor and Francis Ltd.
Pages26-38
Number of pages13
ISBN (Electronic)0203130499, 9781134573134
ISBN (Print)0415236053, 9780415232173
DOIs
Publication statusPublished - 1 Jan 2003

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