Description

This is the sixth of a series of papers that are being written as part of a project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which economists have access for studying both own-country and cross-country linkages. In this paper, we add three more regions and make a number of other changes to a previously estimated small quarterly projection model of the US, euro area, and Japanese economies. The model is estimated with Bayesian techniques, which provide a very efficient way of imposing restrictions to produce both plausible dynamics and sensible forecasting properties.

Taxonomy

Economic policy , Monetary policy

More publications in this series: Working Papers

More publications by: Ioan Carabenciov ; Charles Freedman ; Roberto Garcia-Saltos ; Douglas Laxton ; Ondra Kamenik ; Petar Manchev