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A Small Quarterly Projection Model of the US Economy

A Small Quarterly Projection Model of the US Economy PDF Author: Mr.Ondrej Kamenik
Publisher: International Monetary Fund
ISBN: 1451871368
Category : Business & Economics
Languages : en
Pages : 56

Book Description
This is the first 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 for studying both own-country and cross-country linkages. In this paper, we estimate a small quarterly projection model of the U.S. economy. 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. After developing a benchmark model without financial-real linkages, we introduce such linkages into the model and compare the results with and without linkages.
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