Adding Latin America to the Global Projection Model
April 1, 2009
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Summary
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.
Subject: Exchange rates, Inflation, Output gap, Real exchange rates, Real interest rates
Keywords: exchange rate, interest rate, WP
Pages:
48
Volume:
2009
DOI:
Issue:
085
Series:
Working Paper No. 2009/085
Stock No:
WPIEA2009085
ISBN:
9781451872323
ISSN:
1018-5941
