GPM6: The Global Projection Model with 6 Regions
Ioan Carabenciov · Mr.Charles Freedman · Mr.Roberto Garcia-Saltos · Mr.Douglas Laxton · Mr.Ondra Kamenik · Mr.Petar Manchev
Apr 2013 · International Monetary Fund
Ebook
79
Pages
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About this ebook
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.
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