The Bank Of Canada S New Quarterly Projection Model Qpm
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The Bank of Canada s New Quarterly Projection Model QPM
Author | : Leo Butler,Bank of Canada |
Publsiher | : Unknown |
Total Pages | : 108 |
Release | : 1996 |
Genre | : Canada |
ISBN | : UGA:32108029750034 |
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The level of potential output plays a central role in the Bank of Canada's new Quarterly Projection Model (QPM). This report describes a general method to measure potential output, as well as its implementation in the QPM system. The report begins with a short history of the measurement of potential output. Building on this experience, a hybrid method of measuring potential output is developed that combines economic structure with a time-series filter. The resulting filter, known as the extended multivariate (EMV) filter, exploits theoretical relationships that are embodied in QPM in an effort to identify demand-side and supply-side influences on output. These various relationships are combined in a filter that imposes a smoothness property on the dynamics of potential output. The report describes the general structure of the EMV filter, the various economic relationships that it uses, and the weights applied to these different pieces of information. It concludes with an evaluation of the EMV filter and some suggestions for future improvements.
The Bank of Canada s New Quarterly Projection Model
Author | : Anonim |
Publsiher | : Unknown |
Total Pages | : 0 |
Release | : 1996 |
Genre | : Canada |
ISBN | : 0662244850 |
Download The Bank of Canada s New Quarterly Projection Model Book in PDF, Epub and Kindle
The Bank of Canada's new Quarterly Projection Model (QPM) combines the short-term dynamic properties necessary to support regular economic projections with the consistent behavioural structure necessary for policy analysis. This volume reviews the history of macro modelling at the Bank and how that history has conditioned the nature of QPM and the methodology used in its construction. It then describes the model, focusing on the types of shocks it was designed to handle and the key elements of its dynamic structure. Two important features are noted: forward-looking expectations and endogenous policy rules. Also discussed is the methodology used to calibrate the model to reflect Canadian data, including examples of how the calibration was performed for QPM. Finally, the volume illustrates the properties of QPM in dynamic simulation by describing the results of numerous shocks to the model.
The Bank of Canada s New Quarterly Projection Model
Author | : Richard Black,Bank of Canada |
Publsiher | : Unknown |
Total Pages | : 114 |
Release | : 1994 |
Genre | : Banks and banking |
ISBN | : UCR:31210010576252 |
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Report on the Bank of Canada's Quarterly Projection Model (QPM) that is used for economic projections and policy analysis, focusing on the model's long-run properties. The report describes SSQPM, a model of the steady state of QPM that is maintained separately and used to study the determinants of long-run equilibrium in the economy and the permanent effects of economic disturbances or changes of policy. The report presents the simplest form of the SSQPM; introduces elaborations and extensions that are necessary to support a working projection environment; describes the choices made in calibrating the model and numerical steady state that emerges; and describes the properties of SSQPM as revealed by its responses to a number of shocks to exogenous variables.
The Bank of Canada s New Quarterly Projection Model
Author | : John Armstrong,Bank of Canada |
Publsiher | : Unknown |
Total Pages | : 50 |
Release | : 1995 |
Genre | : Banks and banking |
ISBN | : UCR:31210010576237 |
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In this report, we describe methods for solving economic models when expectations are presumed to have at least some element of consistency with the predictions of the model itself. We present analytical results that establish the convergence properties of alternative solution procedures for linear models with unique solutions. We discuss briefly the extension of our convergence results to applications with non-linear models, but the strong analytical conclusions for linear systems do not necessarily carry over to non-linear systems. We illustrate the analytical discussion and provide some evidence on comparative solution times and on the robustness of the procedures, using simulations of a simple, linear model of a hypothetical economy and of two much larger, non-linear models of the Canadian economy developed at the Bank of Canada.
The Bank of Canada s New Quarterly Projection Model QMP Part 4 A Semi structural Method to Estimate Potential Output electronic Resource Combining Economic Theory with a Time series Filter
Author | : Butler, Leo,Bank of Canada |
Publsiher | : Unknown |
Total Pages | : 135 |
Release | : 1996 |
Genre | : Electronic Book |
ISBN | : OCLC:1036056042 |
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Middelnederlandse Lancelotromans
Author | : Anonim |
Publsiher | : Unknown |
Total Pages | : 135 |
Release | : 1987 |
Genre | : Electronic Book |
ISBN | : OCLC:516505923 |
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The Bank of Canada s New Quarterly Projection Model Part 2 A Robust Method for Simulating Forward looking Models electronic Resource
Author | : Armstrong, John B,Bank of Canada |
Publsiher | : Unknown |
Total Pages | : 135 |
Release | : 1995 |
Genre | : Electronic Book |
ISBN | : OCLC:1017528054 |
Download The Bank of Canada s New Quarterly Projection Model Part 2 A Robust Method for Simulating Forward looking Models electronic Resource Book in PDF, Epub and Kindle
The Bank of Canada s New Quarterly Projection Model
Author | : Anonim |
Publsiher | : Unknown |
Total Pages | : 154 |
Release | : 1996 |
Genre | : Canada |
ISBN | : UCR:31210010576328 |
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