A Small Economic Model for Argentina
- Pedro Elosegui(Central Bank of Argentina)Guillermo Escudé() (Central Bank of Argentina)Lorena Garegnani() (Central Bank of Argentina)Juan Martín Sotes Paladino(Central Bank of Argentina)Registered editor(s):
The uncertainty around monetary policy decision-making requires central banks to make extensive use of macroeconomic models both to analyze the current economic situation and to forecast the evolution of the main economic variables. The Small Economic Model (SEM) for Argentina describes in a stylized manner the macroeconomic dynamic of a small and open economy. This document describes the SEM’s structure and its two versions: a first one that includes the model’s core equations, and a second version that incorporates the simultaneous intervention in the money and foreign exchange markets by the central bank. The model’s main characteristics and limitations, the techniques employed to estimate its parameters and impulse-response functions for both models are presented. Finally, the future research agenda aimed to strengthen the analysis, simulation and forecasting tools for monetary policy purposes is discussed.
This book is provided by Central Bank of Argentina, Economic Research Department in its series BCRA Paper Series with number 03 and published in 2007. ISBN: 978-987-20003-8-7 Handle: RePEc:bcr:estudi:03 Contact details of provider: Postal: Reconquista 266 - C1003ABF - Buenos Aires
Phone: (54-11) 4348-3582
Fax: (54-11) 4000-1257
Web page: http://www.bcra.gov.ar
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Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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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.:
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July.
- Favero, Carlo A., 2001. "Applied Macroeconometrics," OUP Catalogue, Oxford University Press, number 9780198296850, March.
- Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-84, November.
- Horacio Aguirre & Tamara Burdisso & Federico Grillo, 2006. "Towards an Estimation of Money Demand with Forecasting Purposes: Argentina, 1993-2005," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(45), pages 7-44, October.
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