Macroeconomics is the branch of economics that deals with the study of aggregate economic variables. The macroeconomic study can be divided into a long-term study, which implies that economic growth is being analyzed, or it can be a short-term study that concentrates on the analysis of economic cycles. At INESAD we intend to analyze both the short and the long term, emphasizing the analysis of economic policies that allow for the promotion of long term growth and therefore socioeconomic development; but we also intend to analyze those fiscal or monetary policies that allow for the smoothing of economic cycles.

The macroeconomic analysis promoted by INESAD is a scientific and rigorous analysis, based on data and models that allow us to replicate what the data show and propose economic policy guidelines, tested by these models. Beyond the paradigms behind macroeconomic models, at INESAD we are working to become a national and international reference in the use of general equilibrium models, both computable general equilibrium models (CGE) and dynamic stochastic general equilibrium models (DSGE).

Likewise, at INESAD we propose answers to macroeconomic problems based on a structural analysis, seeking lessons from similar experiences, as well as from past experiences. It is in this sense that the analysis of historical data, as well as the construction of new databases, are priorities in our macroeconomic analysis.



  • Structural change and its impact on development: When economies enter a process of sustained economic growth, they undergo structural changes that result in a sectoral shift of labor and value added. These sectoral transformations have impacts on the socioeconomic development of countries that have not been studied much, such as the impact of structural change on women’s empowerment.
  • Fiscal sustainability and optimal fiscal policy: The dependence of public finances on oil revenues has increased in recent years, so it will be necessary to propose strategies aimed at reducing this dependence. It will also be necessary to identify a new fiscal policy design that contemplates fiscal deficit scenarios, external and domestic debt management, a fixed exchange rate regime and tax reform.
  • History of economic policies: Economic cycles in Bolivia are long and well-marked, typically characterized by periods of expansion followed by deep recession. In addition, the economic policies that have been applied in these cycles coincide throughout the cycles, therefore studying these policies from a historical perspective serves to support current public policies in order to avoid repeating the mistakes of the past.