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GPM6: The Global Projection Model with 6 Regions

Author

Listed:
  • Ioan Carabenciov
  • Charles Freedman
  • Mr. Roberto Garcia-Saltos
  • Mr. Douglas Laxton
  • Mr. Ondrej Kamenik
  • Mr. Petar Manchev

Abstract

This is the sixth of a series of papers that are being written as part of a 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 three more regions and make a number of other changes 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

  • Ioan Carabenciov & Charles Freedman & Mr. Roberto Garcia-Saltos & Mr. Douglas Laxton & Mr. Ondrej Kamenik & Mr. Petar Manchev, 2013. "GPM6: The Global Projection Model with 6 Regions," IMF Working Papers 2013/087, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2013/087
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    References listed on IDEAS

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