Policy Analysis and Forecasting in the World Economy
AbstractThis paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within and across economies. A variety of monetary policy analysis, fiscal policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 12/149.
Date of creation: 01 Jun 2012
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-08-23 (All new papers)
- NEP-FOR-2012-08-23 (Forecasting)
- NEP-MAC-2012-08-23 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jan Vlcek & Scott Roger, 2012. "Macrofinancial Modeling At Central Banks," IMF Working Papers 12/21, International Monetary Fund.
- Francis Vitek, 2013. "Policy Analysis and Forecasting in the World Economy: A Panel Dynamic Stochastic General Equilibrium Approach," IMF Working Papers 13/253, International Monetary Fund.
- Tamim Bayoumi & Francis Vitek, 2013. "Macroeconomic Model Spillovers and Their Discontents," IMF Working Papers 13/4, International Monetary Fund.
- Francis Vitek, 2013. "Spillovers to and from the Nordic Economies: A Macroeconometric Model Based Analysis," IMF Working Papers 13/225, International Monetary Fund.
- Bayoumi, Tamim & Bui, Trung, 2011.
"Apocalypse Then: The Evolution of the North Atlantic Economy and the Global Crisis,"
CEPR Discussion Papers
8688, C.E.P.R. Discussion Papers.
- Tamim Bayoumi & Trung Bui, 2011. "Apocalypse Then: The Evolution of the North Atlantic Economy and the Global Crisis," RBA Annual Conference Volume, in: Hugo Gerard & Jonathan Kearns (ed.), The Australian Economy in the 2000s Reserve Bank of Australia.
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