Quarterly Projection Model for India: Key Elements and Properties
| Autor: | Ondra Kamenik, Kevin Clinton, Joice John, Fan Zhang, Asish Thomas George, Pratik Mitra, G.V. Nadhanael, Jaromir Benes, Rafael Portillo, Douglas Laxton, Hou Wang, Pranav Gupta |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Inflation
050208 finance Inflation targeting media_common.quotation_subject 05 social sciences Monetary policy Food prices Policy analysis Interest rate Output gap 0502 economics and business Economics Econometrics General Earth and Planetary Sciences 050207 economics Core inflation General Environmental Science media_common |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.2938332 |
| Popis: | 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. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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