QUEST (latest version: QUEST III)

Acronym:

QUEST

Liaise ownership:

no

Description:

QUEST II is a dynamic macro-economic model of the world economy. It is designed to analyse the economies in the member states of the European Union and their interactions with the rest of the world, especially with the US and Japan. The focus of the model is on the transmission of the effects of shocks and economic policies, both on the domestic and the international economy.
The model is mainly used for:
• simulating the effects of fiscal and monetary policy;
• evaluating the European Commission structural policies (e.g. Structural Funds, Trans-Europe transport networks, Internal Market);
• analysis of long-term issues (e.g. demographic changes);
• analysis of short-term shocks (e.g. exchange rate shocks);
• medium-term projections (over 5 years).
The model was primarily constructed to serve as a tool for policy simulation.
The main features of the model are:
• EU14 (EU15 excluding Luxembourg) and the new member states (the ageing model contains the EU15, USA, Japan and the rest of the world, split into slow ageing and fast ageing);
• 3 sectors and 2 consumption categories;
• monopolistic competition;
• forward-looking expectations;
• exogenous technical progress.
QUEST II can be used either in the single-country version where the rest of the world is an aggregate of all other countries/regions or the multi-country version where individual countries are linked by endogenous (price-dependent) bilateral trade and financial flows.

Input variables:

AMECO, Eurostat for national accounts data

Output variables:

Documentation for the end user:

Scientific documentation:

Contact:

Andre Dramais, andre.dramais@cec.eu.int<br /> Werner Roeger, werner.roeger@cec.eu.int<br />

Publications and applications

Titel Type of practice Updated date
Biofuels Communication Application of a Model or Method 2013-09-05 09:24
IA Report: Action Programme for Reducing Administrative Burdens in the European Union Application of a Model or Method 2013-09-03 22:00
IA Report: Horizon 2020 - The Framework Programme for Research and Innovation Application of a Model or Method 2013-08-28 14:00
IA Report: Internal market for electricity and gas Application of a Model or Method 2013-09-03 21:53
IA Report: Proposal for a Directive amending Directive 2003/96/EC restructuring the Community framework for the taxation of energy products and electricity Application of a Model or Method 2013-09-03 21:54
IA Report: Proposal for a Directive establishing a framework for the recovery and resolution of credit institutions and investment firms (2012) Application of a Model or Method 2013-07-26 14:38
IA Report: Proposal for a Directive imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products Application of a Model or Method 2013-09-03 21:55
IA Report: Proposal for a Directive on a common system of financial transaction tax and amending Directive 2008/7/EC Application of a Model or Method 2013-08-28 15:39
IA Report: Proposal for a Regulation on prudential requirements for credit institutions and investement firms (2011) Application of a Model or Method 2013-07-29 22:50
IA Report: Regulation on amending Regulation (EC)1775/2005 on conditions for access to the natural gas transmission networks Application of a Model or Method 2013-09-03 21:56