On monetary policy, the three equations (AD-AS (Phillip’s curve)-Taylor rule) model seems to be the typical baseline, and researchers extend it in several dimensions, maybe depending on results from a BCA model, or using some other justifications.
I want to study the effect of educational subsidies and other fiscal reforms on some economy…quantitatively. Unlike monetary policy, the fiscal policy rules and models I have read are very diverse…maybe there isn’t a benchmark model for fiscal policy analysis?