Danish government makes its new economic model open source (github.com)

Article summary

The Danish government has made its new economic model, MAKRO, open source. The model is designed to provide a description of the Danish economy and analyze the effects of economic policy initiatives. MAKRO is written in GAMS and uses a preprocessor called gamY, and it includes comprehensive documentation. The model's parameters and equations are based on economic theory and data collected by the Danish government.

Main themes

• Economic modeling
• Open source
• Transparency
• GAMS and gamY
• AI and machine learning
• Universal Basic Income
• Economic policy
• Data and verification

What commenters say

• The inclusion of illegal activities, such as cannabis sales, in economic models is unnecessary and overstated.
• The use of proprietary languages like GAMS may limit the accessibility and usability of the model for outsiders.
• Open-sourcing the model is a step towards transparency and may set a precedent for other countries to follow.
• The model's complexity and limitations may make it difficult for outsiders to contribute to or understand.
• The use of AI and machine learning may potentially improve economic modeling and decision-making in the future.
• Existing economic models may not be effective in predicting the outcomes of radical changes, such as the implementation of a Universal Basic Income.
• The model's ability to accurately predict economic outcomes will depend on its ability to account for externalities and other factors.
• The open-sourcing of the model provides an opportunity for verification and testing against open data over time.