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Adding Indonesia to the Global Projection Model

Author

Listed:
  • Roberto Garcia-Saltos
  • Douglas Laxton
  • Michal Andrle
  • Haris Munandar
  • Charles Freedman
  • Danny Hermawan

Abstract

This 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.

Suggested Citation

  • Roberto Garcia-Saltos & Douglas Laxton & Michal Andrle & Haris Munandar & Charles Freedman & Danny Hermawan, 2009. "Adding Indonesia to the Global Projection Model," IMF Working Papers 09/253, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:09/253
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    Citations

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    Cited by:

    1. Elif C Arbatli & Kenji Moriyama, 2011. "Estimating a Small Open-Economy Model for Egypt: Spillovers, Inflation Dynamics, and Implications for Monetary Policy," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(4), pages 6-42, November.
    2. Andrle, Michal, 2012. "Understanding DSGE Filters in Forecasting and Policy Analysis," Dynare Working Papers 16, CEPREMAP.
    3. Giesen, Sebastian & Holtemöller, Oliver & Scharff, Juliane & Scheufele, Rolf, 2010. "A First Look on the New Halle Economic Projection Model," IWH Discussion Papers 6/2010, Halle Institute for Economic Research (IWH).
    4. International Monetary Fund, 2009. "Indonesia; Selected Issues," IMF Staff Country Reports 09/231, International Monetary Fund.
    5. Javier G. Gómez-Pineda & Dominique Guillaume & Kadir Tanyeri, 2015. "Systemic Risk, Aggregate Demand, and Commodity Prices," BORRADORES DE ECONOMIA 013327, BANCO DE LA REPÚBLICA.
    6. Ioan Carabenciov & Charles Freedman & Roberto Garcia-Saltos & Douglas Laxton & Ondra Kamenik & Petar Manchev, 2013. "GPM6; The Global Projection Model with 6 Regions," IMF Working Papers 13/87, International Monetary Fund.
    7. Ruperto MAJUCA, 2013. "Managing Economic Shocks and Macroeconomic Coordination in an Integrated Region: ASEAN Beyond 2015," Working Papers DP-2013-18, Economic Research Institute for ASEAN and East Asia (ERIA).
    8. Michal Andrle & Jaromir Benes, 2013. "System Priors; Formulating Priors about DSGE Models' Properties," IMF Working Papers 13/257, International Monetary Fund.
    9. Michal Andrle, 2013. "What Is in Your Output Gap? Unified Framework & Decomposition into Observables," IMF Working Papers 13/105, International Monetary Fund.
    10. Javier Gómez‐Pineda & Dominique M. Guillaume & Kadir Tanyeri, 2015. "Systemic Risk, Aggregate Demand, and Commodity Prices," IMF Working Papers 15/165, International Monetary Fund.

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