The National Institute of Economic and Social Research (NIESR) has a long-established international reputation in economic modelling, with models developed at the Institute playing an important and active role in policy making, both within the UK and abroad. The widely used macroeconomic model, NiGEM, is used by a group of external model subscribers, which include the ECB, the IMF, the OECD, the FSA, the Bank of England, the central banks of France, Germany, Italy, Netherlands, Spain, Portugal and the Czech Republic and many others (around 35 external model users in 2012). Other modelling work at the Institute includes short-term macroeconomic forecasting models, 'nowcasting' and the microsimulation model with population ageing, NiBAX, used by a number of UK government departments.
Over the past several years the National Institute was actively involved in development of the first set of the National Transfer Accounts (NTA) for the UK. Our team has also estimated Generational Accounts for the UK, which are now used as a framework for the long-term fiscal projections by the Office of Budget Responsibility. Currently, in work funded by the ESRC, we are building a multiregional model for the UK, NiAGE, which will use NTA's to calibrate an multi-regional OLG-CGE model of the UK economy in an attempt to assess the macroeconomic effect of population ageing in the UK.
Katerina LISENKOVA (Ms.)
James SEFTON (Mr.)
David McCARTHY (Mr.)
Miguel SANCHEZ-MARTINEZ (Mr.)
The partner is participating in the following Work Packages: