IMF researchers add eurozone detail to fund’s global projection model
Aim to capture the dynamics in the eurozone in greater detail
Adding Germany, France, Italy and Spain to the IMF's global projection model (GPM) helps capture the dynamics within the eurozone in "much richer detail", according to new research published by the fund yesterday.
In A Global Projection Model for Euro Area Large Economies, Zoltan Jakab, Pavel Lukyantsau and Shengzu Wang argue that introducing the four largest eurozone countries is an "important enhancement to the existing framework".
The initial model contains one block for the eurozone, which
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