Modelling and Forecasting
OESR has extensive expertise in a range of economic modelling. Data can be used to construct models of the economy which give clients a better understanding of Queensland’s economic structure, the drivers of economic growth or individual industries. The models are used to determine or forecast the effects of particular policy decisions. Further details of different types of modelling conducted by OESR are provided below.
Econometric modelling
OESR undertakes econometric modelling and forecasting to support economic analysis and policy decision making at the macroeconomic and sectoral levels within the Queensland Government. Purpose built econometric models are used to analyse historical trends and, based on this information, to make short-term to medium-term forecasts or projections of key economic variables and to analyse of relevant policy variables. In particular, OESR develops and maintains a macro-econometric model for Queensland.
General Equilibrium Modelling
Supporting microeconomic policy analysis and decision making within the Queensland Government is a responsibility of OESR. This support is provided through development and application of general equilibrium analysis and models. Using these models promotes a better understanding of Queensland’s economic structure and the drivers of economic growth at the state level, and quantifies the effects of state and Commonwealth policies and other impacts on the Queensland economy.
Last reviewed: May 19, 2008, Last modified: Oct 23, 2007
