Bosnia and Herzegovina: Technical Assistance Report-Technical Assistance to Develop a Macroeconomic Framework at the Central Bank of Bosnia and Herzegovina
Technical Assistance Reports, February 7, 2025
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- Bosnia and Herzegovina: Technical Assistance Report-Technical Assistance to Develop a Macroeconomic Framework at the Central Bank of Bosnia and Herzegovina
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Bibliographic details
- Published: February 7, 2025
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229001908.019
Summary of technical assistance
- Technical assistance was delivered to the Central Bank of Bosnia and Herzegovina (CBBH) between April 2021 and December 2023.
- The project developed the Quarterly Macro Forecasting Framework (QMFF), a quarterly framework whose main behavioral equations are specified in terms of deviations of real variables from their long-run trends.
- The QMFF is a novel combination of a gap-based modeling approach and financial programming, custom-built for the CBBH.
QMFF design and features
- Main behavioral equations specified in terms of deviations of real variables from their long-run trends.
- Combines gap-based modeling with financial programming.
- Configurable to accommodate:
- Different macroeconomic characteristics of various countries.
- Different exchange rate regimes.
- Backward- or forward-looking expectation formation.
Implementation status and operational considerations
- Considerable progress has been achieved in the operation of the QMFF.
- More time and resources are needed to fully utilize and integrate the QMFF as the CBBH’s main policy analysis and forecasting tool.
Subjects and keywords (as reported)
- Subjects: Economic and financial statistics, Fiscal policy, Fiscal stance, Government finance statistics, Macro-fiscal framework, National accounts.
- Keywords: appendix C. modeling trend, Bosnia and Herzegovina., Europe, Financial Programming and Policies, Fiscal Division of the ICD, Fiscal stance, Forecasting and Policy Analysis, Gap Models, Government finance statistics, IMF country team assessment, IMF's Institute for Capacity Development, Macro-fiscal framework, Macroeconomic Framework, mission from the Institute of Capacity Development.
Key publication facts (from the content)
- Project period: April 2021 to December 2023.
- Pages: 48.
Bosnia and Herzegovina: Technical Assistance Report-Technical Assistance to Develop a Macroeconomic Framework at the Central Bank of Bosnia and Herzegovina
Content in this bundle
- Executive Summary