Quarterly Projection Model for India Key Elements and Properties |
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| Author:
| Benes, Jaromir
Clinton, Kevin
George, Asish
Gupta, Pranav
John, Joice
Kamenik, Ondra
Laxton, Douglas
Mitra, Pratik
Nadhanael, G. V.
Portillo, Rafael
Wang, Hou
Zhang, Fan |
| Series title: | IMF Working Papers |
| ISBN: | 978-1-4755-8422-6 |
| Publication Date: | Feb 2017 |
| Publisher: | International Monetary Fund
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| Book Format: | Ebook |
| List Price: | Contact Supplier contact
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Book Description:
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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...
More DescriptionThis 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.