January 26, 2006

Models and methods for economic policy; 60 years of evolution at CPB

CPB-modellen in 60 jaar sterk geëvolueerd

Press release
Sinds de oprichting van het Centraal Planbureau (CPB) in 1945 heeft het CPB zich bezig gehouden met het ontwikkelen van econometrische modellen ten behoeve van de voorbereiding van het economische beleid. Geleidelijk is daarbij het accent verschoven van econometrie en empirie naar economische theorie.

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Dick Morks
Johan Verbruggen

The Netherlands Bureau for Economic Policy Analysis (CPB) has been involved in econometric model building since its foundation in 1945. 

During the 60 years of model building and use reviewed in this Discussion Paper, CPB's models have evolved significantly. Over this period, a shift of emphasis can be observed from econometrics and empiricism to economic theory.

New questions from policymakers and new features in the national economy have guided research, while new developments in econometrics and economic theory were taken on board wherever they helped to improve the quality and scope of the analysis. Although considerable progress has been achieved in several spheres, the models continue to be riddled with some long-standing limitations and weaknesses which the model users should take into account.


Henk Don
Johan Verbruggen