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Question: Further research is needed to extend the study to involve other important modelling approaches such as theory-based macro-economic forecasting for instance Dynamic Stochastic General Equilibrium (DSGE) modelling. DSGE is exemplified by the Global Economy Model (GEM) which provides support in policy analysis to central banks and the International Monetary Fund (IMF) (Bayoumi 2004).
How will this further add to understanding the scope and limitations of different modelling paradigms?
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"Policy-making is driven by the need to solve societal problems and should result in interventions to solve these societal problems." (Janssen, 2015)
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