Adding Indonesia to the Global Projection Model

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.
Publication date: November 2009
ISBN: 9781451941715
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Inflation , Macroeconomic Modeling , Bayesian Estimation , inflation , rate of inflation , real interest rate , Model Construction and Estimation

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