South African Reserve Bank (SARB) Quarterly Projection Model
The QPM is a general equilibrium model (GEM) that has its foundation in modern macroeconomic theory. The macroeconomic modelling and forecasting process at the South African Reserve Bank makes use of a suite of models. All models have their specific strengths and weaknesses, and the use of a suite allows the models to complement each other in order to generate better policy outcomes. Over time, the models have evolved along with advances in both econometric theory and computing power. The underlying assumption is that agents in the economy are forward looking, i.e., expectations about the future matter for decisions that are made today. For example, a firm would set the price for the good it produces by taking into account its expectation for future inflation.
Welcome to our Code Sharing page. The South African Modelling Network (SAMNET) is a platform that promotes the development and sharing of modelling and forecasting tools for the South African economy. Below is a list of relevant resources used in macroeconomic policy making. Resources include both papers on and coding for the most popular models used in macroeconomic modelling. We also invite you to get involved and share your code so we can support the research community.
SARB Quarterly Projection Model Resources
Social Accounting Matrix (SAM) Model
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