ESCB Network on Microsimulation Modelling
The ESCB Network on Microsimulation Modelling was established to enhance the microsimulation capacity within the European System of Central Banks (ESCB). The network aims to foster cross-country collaboration on research projects and policy analyses, offering peer support and strengthening technical expertise in microsimulation modelling.
Objectives
The main objective of the ESCB Network on Microsimulation modelling is to conduct joint policy analysis and research using microsimulation models. By leveraging these models, the network can provide detailed insights into the distributional effects of various economic policies, such as tax reforms, social security changes and monetary policy adjustments. This collaborative approach allows for a better understanding of how such policies affect different population groups, thereby informing fairer and more effective policy decisions.
The network also aims to strengthen the technical expertise on microsimulation modelling within the ESCB by sharing knowledge and skills through workshops, training sessions and collaborative projects. These activities help to spread best practices and innovative methods among member institutions, ensuring that all participants can benefit from the latest advances in microsimulation techniques. By building a community of practice, the network improves the overall analytical skills across the ESCB, enabling more robust and sophisticated policy analyses.
Within the network, staff of the ECB and national central banks (NCBs) collaborate with the European Commission’s Joint Research Centre as well as centres of excellence in universities and research institutes.
Ongoing projects
- High inflation and policy responses
- Corporate tax microsimulation model
- EU Emissions Trading System (EU ETS)
- Indirect taxes
- Tax elasticities
Completed projects
Fiscal drag in theory and practice
Chairs and coordinators
- Maximilian Freier, ECB
- Sara Riscado, Banco de Portugal, currently OECD
- Maria Flevotomou, Bank of Greece - Coordinator of the workstream on inflation and the policy responses
- Esteban García Miralles, Banco de España - Coordinator of the workstream on fiscal drag in theory and practice
- Nationale Bank van België/Banque Nationale de Belgique
- Deutsche Bundesbank
- Eesti Pank
- Central Bank of Ireland
- Bank of Greece
- Banco de España
- Banque de France
- Banca d'Italia
- Central Bank of Cyprus
- Latvijas Banka
- Lietuvos bankas
- Banque centrale du Luxembourg
- Magyar Nemzeti Bank
- Bank Ċentrali ta' Malta/Central Bank of Malta
- De Nederlandsche Bank
- Oesterreichische Nationalbank
- Banco de Portugal
- Banka Slovenije
- Národná banka Slovenska
- European Commission’s Joint Research Centre
- Ifo Institute for Economic Research
Publications
Amores et al. (2024), “Inflation, Fiscal Policy, and Inequality: The Impact of the Post‐Pandemic Price Surge and Fiscal Measures on European Households”, Review of Income and Wealth, Vol. 71, No 1
Conferences and workshops
- 13 December 2024
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First workshop of the ESCB Network of Microsimulation Modelling, Lisbon
Contact information
For further information, just send us an email.