Policy applications of a global macroeconomic model

Richard Dennis and Jose Lopez

FRBSF Economic Letter, 2004, issue jun11

Abstract: In this Economic Letter, we summarize the key components of the GVAR model and discuss its usefulness for monetary policy applications and for credit risk management issues faced by financial institutions and their government supervisors. We argue that while the GVAR model is probably useful for credit risk management and could potentially have some use for bank supervision, it is unlikely to be as useful for monetary policy applications.

Keywords: Macroeconomics; Monetary policy; Economic policy (search for similar items in EconPapers)
Date: 2004
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