Download or read book GPM6 written by Ioan Carabenciov and published by International Monetary Fund. This book was released on 2013-04-10 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the sixth of a series of papers that are being written as part of a 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 three more regions and make a number of other changes 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.