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QMM A Quarterly Macroeconomic Model of the Icelandic Economy Version 4.0

Author

Listed:
  • Ásgeir Daníelsson
  • Lúdvik Elíasson
  • Magnús F. Gudmundsson
  • Svava J. Haraldsdóttir
  • Lilja S. Kro
  • Thórarinn G. Pétursson
  • Thorsteinn S. Sveinsson

Abstract

This Handbook documents Version 4.0 of the Quarterly Macroeconomic Model of the Central Bank of Iceland (QMM). QMM and the underlying quarterly database have been under construction since 2001 at the Research and Forecasting Division of the Economics and Monetary Policy Department at the Bank and was first implemented in the forecasting round for the Monetary Bulletin 2006/1 in March 2006. QMM is used by the Bank for forecasting and various policy simulations and therefore plays a key role as an organisational framework for viewing the medium-term future when formulating monetary policy at the Bank. This paper is mainly focused on the short and mediumterm properties of QMM. Steady state properties of the model are documented in a paper by Daníelsson (2009).

Suggested Citation

  • Ásgeir Daníelsson & Lúdvik Elíasson & Magnús F. Gudmundsson & Svava J. Haraldsdóttir & Lilja S. Kro & Thórarinn G. Pétursson & Thorsteinn S. Sveinsson, 2019. "QMM A Quarterly Macroeconomic Model of the Icelandic Economy Version 4.0," Economics wp82, Department of Economics, Central bank of Iceland.
    • Handle: RePEc:ice:wpaper:wp82
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    References listed on IDEAS

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