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Policy Analysis and Forecasting in the World Economy A Panel Unobserved Components Approach

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within and...

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Bibliographic Details
Main Author: Vitek, Francis
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Working Papers
Subjects:
Interest Rates
Finance
Return On Investment
Financial Services
Deflation
Fiscal Policy
Open Economy Macroeconomics
Exports And Imports
Intangible Capital
National Accounts
Model Construction And Estimation
Market Interest Rates
Cycles
Forecasting And Other Model Applications
Multiple Or Simultaneous Equation Models: Models With Panel Data
Macroeconomics
Banking
Capacity
Capital
Bayesian Analysis: General
Inflation
Investment
Short-term Capital Movements
Current Account Adjustment
Balance Of Payments
International Economics
Price Level
Saving And Investment
Banks And Banking
Investments: General
Current Account Balance
Financial Markets And The Macroeconomy
Prices
Business Fluctuations
Interest Rates: Determination, Term Structure, And Effects
Monetary Policy
Central Bank Policy Rate
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features 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
Physical Description:77 pages
ISBN:9781475504187

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