Mr. Zamid Aligishiev, Mr. Giovanni Melina, and Luis-Felipe Zanna
This note is a user’s manual for the DIGNAR-19 toolkit, an application aimed at facilitating the use of the DIGNAR-19 model by economists with no to little knowledge of Matlab and Dynare via a user-friendly Excel-based interface. he toolkit comprises three tools—the simulation tool, the graphing tool, and the realism tool—that translate the contents of an Excel input file into instructions for Matlab/Dynare programs. These programs are executed behind the scenes. Outputs are saved in a separate Excel file and can also be visualized in customizable charts.
Mr. Ales Bulir, Daniel Baksa, Mr. Juan S Corrales, Andres Gonzalez, Diego Rodriguez, and Dyna Heng
This technical note and manual (TNM) addresses the following issues: • Evaluating the full implications from the policies adopted to mitigate the impact of the COVID-19 pandemic on the economy requires a well-developed macroeconomic framework. This note illustrates how such frameworks were used to analyze Colombia and Cambodia's shock impact at the beginning of the pandemic. • The use of macroeconomic frameworks is not to infer general policy conclusions from abstract models or empirical analysis but to help policymakers think through and articulate coherent forecasts, scenarios, and policy responses. • The two country cases illustrate how to construct a baseline scenario consistent with a COVID-19 shock within structural macroeconomic models. The scenario is built gradually to incorporate the available information, the pandemic's full effects, and the policy responses. • The results demonstrate the value of combining close attention to the data, near-term forecasting, and model-based analyses to support coherent policies.
Olivier Basdevant, John Hooley, and Eslem Imamoglu
This How to Note provides operational guidance for policymakers and IMF staff teams on designing—or revising—a fiscal strategy in resource-rich countries (RRC). Properly managed, resource revenue can support fiscal sustainability and development and equity objectives. Resource revenues also create significant stabilization challenges for fiscal policy because of their size, uncertainty, volatility, and finite nature. The guidance in this note is intended to be general and applicable to RRCs with a range of income levels, resource endowments, and macroeconomic contexts. It is designed primarily to help policymakers analyze the trade-offs associated with alternative fiscal paths and select the right fiscal strategy, given country-specific circumstances.
The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.