“Reform Review” Dedicated to Economic and Mathematical Models Developed at CAERC
A special issue of the Reform Review prepared by the Center for Analysis of Economic Reforms and Communication (CAERC) is dedicated to the presentation of the laboratory established at the Center to support fundamental economic analysis—EconLAB (the laboratory for conducting economic analysis).
According to Rashad Huseynov, Head of Department at CAERC, the review presents five economic and mathematical models developed at EconLAB for the Azerbaijani economy. These include the input–output model, the financial planning model, the general equilibrium model, the ORANI model, and the microsimulation model. For each economic and mathematical method presented, the potential areas of application as well as the structural framework are explained in detail through infographics. Information is also provided on the software tools used in the development of these models. In addition, the models are grouped according to their characteristics: some are designed for dynamic analysis, while others are used for static analysis. Moreover, by using the existing models, in-depth analyses can be conducted at the macro, meso, and micro levels.
R. Huseynov notes that the use of the economic and mathematical methods presented in the review will provide the decision-making process in the formulation of economic policy (reforms) with the necessary and comprehensive information.
The Reform Review is available in the “Reviews” section.
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