The Federal Planning Bureau (FPB) is an independent public agency. It draws up studies and projections on economic, social and environmental policy issues and on the integration of these policies within a context of sustainable development.
This Paper describes how the multiregional bottom-up HERMREG model works, using five (regional or federal) economic policy variants and a world demand shock.
This Working Paper describes the main characteristics of the multiregional bottom-up model, named HERMREG. This model is used by the Federal Planning Bureau (FPB) and its three regional partners in the HERMREG project (IBSA-BISA, IWEPS, Statistiek Vlaanderen) to analyse the short and medium-term impact of economic policies in the three Belgian regions.
This report shows the estimations of potential growth and the output gap for Belgium, based on a technical update of the Federal Planning Bureau’s June 2020 medium-term projections (update published in September 2020). The results are then compared to the European Commission’s Spring 2020 forecasts.