José Emilio Bosca and Javier Ferri (researchers at the Institute of International Economics) will participate in the agreement signed between the Ministries of Economy and Finance, the Rafael del Pino Foundation, BBVA and the University of Valencia.
The objective of this Project is to develop a new economic simulation model for the Spanish economy to replace and complement the current REMS Model. The new tool will be useful for the analysis, design and evaluation of public policies aimed at promoting macroeconomic stability, full employment and economic growth. Moreover, like its predecessor, it will continue to support Ministries in the presentation of results to international institutions, especially European ones. The new model will also be accompanied by a new database with which to evaluate the cyclical position of a set of variables and to establish the amount and direction of the main shocks that determine the economic cycle in each period.
