Policy Analysis and Forecasting in the World Economy A Panel Dynamic Stochastic General Equilibrium Approach

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission mechanism, a...

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Bibliographic Details
Main Author: Vitek, Francis
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2013
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Policy Analysis and Forecasting in the World Economy  |b A Panel Dynamic Stochastic General Equilibrium Approach  |c Francis Vitek 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2013 
300 |a 89 pages 
651 4 |a United Kingdom 
653 |a Interest rates 
653 |a Terms of trade 
653 |a Finance 
653 |a Return on investment 
653 |a Financial services 
653 |a Deflation 
653 |a Fiscal Policy 
653 |a Open Economy Macroeconomics 
653 |a Exports and Imports 
653 |a Intangible Capital 
653 |a National accounts 
653 |a Model Construction and Estimation 
653 |a Market interest rates 
653 |a Cycles 
653 |a International trade 
653 |a Forecasting and Other Model Applications 
653 |a Multiple or Simultaneous Equation Models: Models with Panel Data 
653 |a Macroeconomics 
653 |a Banking 
653 |a Capacity 
653 |a Capital 
653 |a Bayesian Analysis: General 
653 |a Nternational cooperation 
653 |a Economic policy 
653 |a Inflation 
653 |a Investment 
653 |a International economics 
653 |a Price Level 
653 |a Saving and investment 
653 |a Banks and Banking 
653 |a Investments: General 
653 |a Financial Markets and the Macroeconomy 
653 |a Prices 
653 |a Business Fluctuations 
653 |a Interest Rates: Determination, Term Structure, and Effects 
653 |a Empirical Studies of Trade 
653 |a Monetary Policy 
653 |a Central bank policy rate 
041 0 7 |a eng  |2 ISO 639-2 
989 |b IMF  |a International Monetary Fund 
490 0 |a IMF Working Papers 
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520 |a This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within and across economies. A variety of monetary policy analysis, fiscal policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment