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FINANCIAL NEWS
ADCED presents new economic model
22 Dec 2010
(MENAFN) Saeed Al Muhairi, an associate at the Abu Dhabi Council for Economic Development (ADCED), said that ADCED, in an attempt to monitor and measure the results and impacts of different policies on the economy of the emirate, has presented a new economic model, reported Gulf News.
ADCED, which serves as the economic policy advisory council for Abu Dhabi, presented the ADMOD model which estimates how a modification in economic policy changes economy status based on ADMOD computable general equilibrium (CGE).
Al Muhairi however pointed out that for such a model to function, a lot of data needs to be collected. A Major source for data would be the ministries of UAE along with the Statistics Centre of Abu Dhabi.
Although such a model is an important tool for policy makers as it provides indicators on economy and its adaptation to certain policy changes, however, economists warn that this cannot be used to give precise results.
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