QMM. A Quarterly Macroeconomic Model of the Icelandic Economy
AbstractThis paper documents and describes Version 2.0 of the Quarterly Macroeconomic Model of the Central Bank of Iceland (QMM). QMM and the underlying quarterly database have been under construction since 2001 at the Research and Forecasting Division of the Economics Department at the Bank and was first implemented in the forecasting round for the Monetary Bulletin 2006.1 in March 2006. QMM is used by the Bank for forecasting and various policy simulations and therefore plays a key role as an organisational framework for viewing the medium-term future when formulating monetary policy at the Bank. This paper is mainly focused on the short and medium-term properties of QMM. Steady state properties of the model are documented in a paper by Daníelsson (2009).
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Bibliographic InfoPaper provided by Department of Economics, Central bank of Iceland in its series Economics with number wp41.
Date of creation: Feb 2009
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-07 (All new papers)
- NEP-CBA-2009-03-07 (Central Banking)
- NEP-CMP-2009-03-07 (Computational Economics)
- NEP-MAC-2009-03-07 (Macroeconomics)
- NEP-MON-2009-03-07 (Monetary Economics)
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