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Adding Latin America to the Global Projection Model

Adding Latin America to the Global Projection Model by International Monetary Fund
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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.
International Monetary Fund; April 2009
48 pages; ISBN 9781452754109
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Title: Adding Latin America to the Global Projection Model
Author: International Monetary Fund