GPM6: The Global Projection Model with 6 Regions
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Summary:
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.
Series:
Working Paper No. 2013/087
Subject:
Central bank policy rate Financial services Foreign exchange Inflation Output gap Prices Production Real exchange rates Real interest rates
English
Publication Date:
April 10, 2013
ISBN/ISSN:
9781484318942/1018-5941
Stock No:
WPIEA2013087
Pages:
79
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