Introducing the Bank of Canada's Projection Model for the Global Economy

Bank of Canada Technical Report No. 99

72 Pages Posted: 23 Mar 2010

See all articles by Jeannine Bailliu

Jeannine Bailliu

Bank of Canada

Patrick Blagrave

International Monetary Fund (IMF)

James Rossiter

Bank of Canada

Date Written: March 2, 2010

Abstract

To complement its existing set of tools to analyze and forecast developments in the global economy, the Bank of Canada recently developed a version of the Global Projection Model (GPM) jointly with staff at the International Monetary Fund. The GPM is a highly stylized quarterly projection model for the global economy based on work by Carabenciov et al. (2008). The GPM is specifically designed to meet the need for a better tool to conduct the global projection. The model’s main strength is that it provides an internally consistent projection for the global economy, wherein a shock to any individual block of the model is transmitted to the other economies through several channels. Moreover, it enables staff to better account for changes in view from projection to projection and to analyze the general-equilibrium impact on the global economy of a number of key shocks.

Keywords: Economic models, International topics, Business fluctuations and cycles

JEL Classification: C68, E27, E37, F01

Suggested Citation

Bailliu, Jeannine and Blagrave, Patrick and Rossiter, James, Introducing the Bank of Canada's Projection Model for the Global Economy (March 2, 2010). Bank of Canada Technical Report No. 99, Available at SSRN: https://ssrn.com/abstract=1572792 or http://dx.doi.org/10.2139/ssrn.1572792

Jeannine Bailliu

Bank of Canada ( email )

Ottawa, Ontario K1A 0G9
Canada
613-782-7474 (Phone)
613-782-7658 (Fax)

Patrick Blagrave

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

James Rossiter (Contact Author)

Bank of Canada ( email )

234 Wellington Street
Ottawa, Ontario K1A 0G9
Canada

HOME PAGE: http://www.bankofcanada.ca/ec/jrossiter/

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
33
Abstract Views
624
PlumX Metrics