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Quarterly projection model for India : key elements and properties /

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates sev...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Benes, Jaromir (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, District of Columbia] : International Monetary Fund, 2017.
Colección:IMF working paper ; WP/17/33.
Temas:
Acceso en línea:Texto completo

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520 3 |a This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates several India-specific features like the importance of the agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an endogenous credibility process for monetary policy formulation. The paper also describes key properties and historical decompositions of some important macroeconomic variables. 
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