Macroeconomic Modelling for Improved Economic Assessment

TCR did not include a lesson for this criterion, however, a relevant lesson can be found in the Follow_x005F_x0002_up Actions section: “To build upon the achievements of the project, a new KSTA [knowledge and support technical assistance] on Deepening Understanding of Macroeconomic Fluctuations in Developing Member Countries for Improved Economic Assessment was approved on 21 June 2018 to further deepen understanding of macroeconomic fluctuations in DMCs for improved economic assessment. Besides characterizing business and credit cycles and assessing sources of fluctuations, the new TA will develop a website for tracking the chronology and other features of cycles using high frequency economic data. The maintenance and enhancement of nowcasting macroeconomic monitoring tools and conducting capacity building workshops will be continued under this TA. The macroeconomic monitoring team will continue to pursue in-depth scenario analyses and research studies related to economic fluctuations.” A lesson here would be the importance of replication and scaling up to ensure continued sustainability of the TA.