Technical Assistance Reports

Bosnia and Herzegovina: Technical Assistance Report-Technical Assistance to Develop a Macroeconomic Framework at the Central Bank of Bosnia and Herzegovina

February 7, 2025

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

IMF Institute. "Bosnia and Herzegovina: Technical Assistance Report-Technical Assistance to Develop a Macroeconomic Framework at the Central Bank of Bosnia and Herzegovina", Technical Assistance Reports 2025, 012 (2025), accessed April 16, 2025, https://doi.org/10.5089/9798229001908.019

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Summary

Technical assistance to develop a macroeconomic framework was delivered to the Central Bank of Bosnia and Herzegovina (CBBH) between April 2021 and December 2023. The Quarterly Macro Forecasting Framework (QMFF) developed during this project is a quarterly framework whose main behavioral equations are specified in terms of deviations of real variables from their long-run trends. The framework is a novel combination of a gap-based modeling approach and financial programing. This novel approach was custom-built for the CBBH, but it has the flexibility to be adjusted to accommodate the macroeconomic characteristics of various countries and different exchange rate regimes, as well as to incorporate backward- or forward-looking expectation formation. While considerable progress has been achieved in the operation of the QMFF, more time and resources are needed to fully utilize and integrate the QMFF as the CBBH’s main policy analysis and forecasting tool.

Subject: Economic and financial statistics, Fiscal policy, Fiscal stance, Government finance statistics, Macro-fiscal framework, National accounts

Keywords: Appendix C. modeling trend, Bosnia and Herzegovina., Europe, Financial Programming and Policies, Fiscal Division of the ICD, Fiscal stance, Forecasting and Policy Analysis, Gap Models, Government finance statistics, IMF country team assessment, IMF's Institute for Capacity Development, Macroeconomic Framework, Macro-fiscal framework, Mission from the Institute of Capacity Development

Publication Details

You May Also Be Interested In...

Antigua and Barbuda: 2025 Article IV Consultation-Press Release; and Staff Report

April 14, 2025

Principality of Andorra: 2025 Article IV Consultation-Press Release; and Staff Report

April 11, 2025

Principality of Andorra: Selected Issues

April 11, 2025

Assessing Climate Change Risks: Potential Output Losses and Gains from Strengthening Resilience, Bahamas

April 11, 2025