Adding Indonesia to the Global Projection Model
Author: Charles Freedman
Publisher: International Monetary Fund
Published: 2009-11-01
Total Pages: 59
ISBN-13: 1451941714
DOWNLOAD EBOOKThis is the fifth 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 Indonesia 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.