Adding Latin America to the Global Projection Model

International Monetary Fund

No 2009/085, IMF Working Papers from International Monetary Fund

Abstract: This is the fourth of a series of papers that are being written as part of a larger 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 Latin American economies 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.

Keywords: WP; exchange rate; interest rate (search for similar items in EconPapers)
Pages: 48
Date: 2009-04-01
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Citations: View citations in EconPapers (15)

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