In this project 11 European Universities collaborate with the European Commission’s Joint Research Centre in a consortium of experienced researchers in the field of macro- and financial economics and macroeconomics, supported by an advisory board of influential academics of the highest worldwide reputation and policy makers at central banks and finance ministries.

The three-year project (2014-2017) is funded by the European Commission and brings together different lines of research to systematically develop new behavioural and institutional model building blocks, to integrate such features in policy-focused models and to make use of these models in a new framework for policy evaluation. The intended research program is best summarized using the following four headings:

  • A Beyond representative agents: disaggregated modelling
  • B Beyond ad-hoc assumptions: modelling financial sector institutions and imperfections
  • C Beyond the lack of realism: integration into policy-focused macroeconomic models
  • D Beyond the scientific vacuum: robust model-based policy design

Researchers at CEPREMAP are involved in the MACFINROBODS project: Stéphane Adjémian, Eleni Iliopulos, Sumudu Kankanamge, Frédéric Karamé, Ferhat MIhoubi, Thepthida Sopraseuth, Thomas Weitzenbum and Houtan Bastani.