宏观框架基础工具（MFT）1.0：用户手册

N O T E S&M A N U A L SN O T E S&M A N U A L S Macroframework FoundationsTool (MFT) 1.0: User Manual Tubagus Feridhanusetyawan, Amgad Hegazy, Marie-Pierre Aquino Coste,Michal Andrle, Robert Corker, and Fernando Delgado TNM/2025/11 TECHNICAL NOTES AND MANUALS Macroframework FoundationsTool (MFT) 1.0: User Manual Tubagus Feridhanusetyawan, Amgad Hegazy,Marie-Pierre Aquino Coste, Michal Andrle, Robert Corker,and Fernando Delgado Authorized for distribution by Dominique Desruelle © 2025 International Monetary FundInstitute for Capacity Development Cataloging-in-Publication DataIMF Library Names: Feridhanusetyawan, Tubagus, author. | Hegazy, Amgad, author. | Aquino Coste, Marie-Pierre,author. | Andrle, Michal, author. | Corker, Robert, author. |Delgado Fernández, Fernando-Luciano, author. | International Monetary Fund, publisher.Title: Macroframework foundations tool (MFT) 1.0 : User manual / Tubagus Feridhanusetyawan, AmgadHegazy, Marie-Pierre Aquino Coste, Michal Andrle, Robert Corker, and Fernando DelgadoOther titles: MFT 1.0 user manual. | Technical notes and manuals. | International Monetary Fund. Institutefor Capacity Development.Description: Washington, DC : International Monetary Fund, 2025. | Aug. 2025. | TNM/2025/11. | Includesbibliographical references.Identifiers: ISBN:9798229009256 (paper)9798229009478 (ePub)9798229009300 (web PDF)Subjects: LCSH: Macroeconomics—Econometric models. | Macroeconomics—Decision making.Classification: HB172.5.F4 2025 DISCLAIMER: This Technical Guidance Note should not be reported as representing the views of the IMF. The viewsexpressed in this paper are those of the authors and do not necessarily represent the views of theIMF, its Executive Board, or IMF management. Recommended citation:Feridhanusetyawan, Tubagus, Amgad Hegazy, Marie-Pierre Aquino Coste, Michal Andrle,Robert Corker, and Fernando Delgado. 2025. “Macroframework Foundations Tool (MFT) 1.0:User Manual.” IMF Technical Notes and Manuals2025/11. International Monetary Fund, Washington, DC. Please send orders to:International Monetary Fund, Publication ServicesPO Box 92780, Washington, DC 20090, USATel: (202) 623-7430 | Fax: (202) 623-7201publications@IMF.orgeLibrary.IMF.orgbookstore.IMF.org The authors are grateful for comments provided by colleagues in the Institute for Capacity Development (ICD) General Macroand Fiscal Division (ICDMF), Ali Alichi (Division Chief), ICDMF TA-Review team (Alberto Soler, José Federico Geli Manzano,Barrett Owen, Tubagus Feridhanusetyawan), and other colleagues in ICD; the Strategy, Policy, and Review Department; theFiscal Affairs Department; the Monetary and Capital Markets Department; and the Research Department. This User Manualdraws onBuilding a Macro Foundations Tool, an unpublished User Guide written by Robert Corker to operate an early versionof the Macroframework Foundations Tool (MFT) that was based on the original “barebones” model developed by FrancescoLuna and Robert Corker for the IMF’s Financial Programming and Policies (FPP) courses during 2020–21. The authors alsoappreciate the support provided by Maria Sofia Anastacio, Von Allena, and Priscila Stisman in preparing this User Manual. Contents Abbreviations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 A. The Macroframework Foundations Tool (MFT) as a Macroeconomic Projection Tool. . . . . . . . . . . . .4B. Intended Use in Capacity Development. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 A. MFT Structure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8B. MFT Behavioral Equations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12C. MFT Operations in Excel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 IV.Building and Operating the MFT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 A. Preparation: Writing a Statement of Purpose. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18B. Step 1: Collecting Input Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18C. Step 2: Analyzing Input Data and Performing Consistency Checks. . . . . . . . . . . . . . . . . . . . . . . . . . . .22D. Step 3: Specifying Behavioral Equations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23E. Step 4: Verifying Policy and Exogenous Variables. . . . . . . . . . . . . . . . . . . . . . . . . . . .