Adding Indonesia to the Global Projection Model

Download or read book Adding Indonesia to the Global Projection Model written by Charles Freedman and published by International Monetary Fund. This book was released on 2009-11-01 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.