Events

Macroeconomic modelling and analysis of the Spanish economy

María del Pino, Rafael Domenech, Marta Fernández Currás and Iñigo Fernández de Mesa Vargas

On 13 October 2014, the meeting "Modelling and macroeconomic analysis of the Spanish economy" was held at the headquarters of the Rafael del Pino Foundation.

The event was attended by the following personalities:
- María del Pino, President of the Rafael del Pino Foundation
- Rafael Domenech, Chief Economist of Developed Markets at BBVA and Professor of Economic Analysis at the University of Valencia.
- Marta Fernández Currás, Secretary of State for Budget and Expenditure
- Iñigo Fernández de Mesa Vargas, Secretary of State for Economic Affairs and Business Support

The Foundation collaborates with the Ministries of Finance and Public Administrations and Economy and Competitiveness, BBVA, the University of Valencia and the Fundación de Economía Analítica, in the development of the project Macroeconomic modelling and public policies, based on the elaboration of a model of rational expectations (Rational Expectations Model for the Spanish economy, REMS) capable of analysing, designing and evaluating public policies aimed at promoting macroeconomic stability, full employment, regional cohesion and the convergence of Spain with neighbouring countries.

Since its development in 2008, the REMS model has been used intensively by the State Secretariat of Finance and Budgets, the State Secretariat of Economy, the Economic Office of the President of the Government and the BBVA Research Department to carry out numerous simulations of the macroeconomic impact of different economic policy measures. Now, the REMS model, renewed with its stochastic version, makes it possible to reinforce the common language of technicians and researchers when analysing and evaluating the impact of different public policies on the Spanish economy, not only at the national level, but also internationally, given its advantages in terms of agility and comparability.

The Rafael del Pino Foundation is not responsible for the comments, opinions or statements made by the people who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their sole responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio González, are the result of the debates held at the meeting held for this purpose at the Foundation and are the responsibility of the authors.

The Rafael del Pino Foundation is not responsible for any comments, opinions or statements made by third parties. In this respect, the FRP is not obliged to monitor the views expressed by such third parties who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their own responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio J. González, are the result of the discussions that took place during the conference organised for this purpose at the Foundation and are the sole responsibility of its authors.

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