Macroeconomics for Justice and Inclusive Growth

ongoing

The project aims to address the urgent need to re-think macroeconomic policies, tools, and models, to overcome the combination of slow growth, mounting foreign debts and financial instability that characterized Latin America. The recent social tensions in the continent constitute an alarm bell and the need to move macroeconomic policies in the direction of justice and inclusive growth is increasingly recognized. The central idea of the project “MAcroeconomics for Justice and Inclusive Growth” is to contribute to this task by using the already existing capacities in the Latin American universities belonging to the consortium, and strengthening them with the help of some world leading experts in the field of macroeconomic modelling working with the European universities of the consortium. The project aims at fostering research capacities in the field of development macroeconomics in the LA HEIs. Emphasis will be given on building macroeconomic models to evaluate the potential impact of macroeconomic policies for justice, sustainable development and inclusive growth, in line with the Sustainable Development Goals adopted by the international community. Sustainability is to be understood as social, financial and environmental. After severe world crisis of 2007-2009, economists worldwide recognized the importance of macroeconomic modelling to define the development trajectory of any given economy and its social, financial and environmental features. The so-called Stock-Flow models have proven to be the more palatable alternative emerging. With economic modelling and forecasting being increasingly requested for sustainable development and policy making, MAJIG intends to respond to the necessary to shape a figure able to address today’s policy and market needs promptly. The project will be pivotal for the effective upskilling and reskilling of competences, according to today’s job market’s needs and requests, boosting employability and response to development challenges.