Adding Latin America to the Global Projection Model

50 Pages Posted: 28 Apr 2009

See all articles by Charles Freedman

Charles Freedman

Government of Canada - Bank of Canada; National Bureau of Economic Research (NBER)

M. Eric Johnson

Independent

Jorge Iván Canales-Kriljenko

International Monetary Fund (IMF)

Roberto Garcia-Saltos

International Monetary Fund (IMF)

Douglas Laxton

International Monetary Fund (IMF) - Research Department

Date Written: April 2009

Abstract

This is the fourth 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 Latin American economies 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.

Keywords: Economic models, Latin America, Monetary policy, Inflation targeting, Cross country analysis

Suggested Citation

Freedman, Charles and Johnson, M. Eric and Canales-Kriljenko, Jorge Iván and Garcia-Saltos, Roberto and Laxton, Douglas, Adding Latin America to the Global Projection Model (April 2009). Available at SSRN: https://ssrn.com/abstract=1394805 or http://dx.doi.org/10.2139/ssrn.1394805

Charles Freedman (Contact Author)

Government of Canada - Bank of Canada ( email )

234 Wellington Street
Ontario, Ontario K1A 0G9
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613 782-8045 (Phone)
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National Bureau of Economic Research (NBER)

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M. Eric Johnson

Independent

Jorge Iván Canales-Kriljenko

International Monetary Fund (IMF) ( email )

700 19th Street N.W.
Washington, DC 20431
United States

Roberto Garcia-Saltos

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Douglas Laxton

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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