BCRP quarterly projection model: update and new developments

This document describes an updated version of the Quarterly Projection Model used by officials at the Central Office of Economic Studies of the BCRP for the purposes of simulating monetary policy and projecting Peru’s key macroeconomic variables. It discusses the model’s basic structure and its main dynamic properties, and presents estimates using data from 2002 (the start of the inflation-targeting framework) through the end of 2012. (Audio: Department of Economic Publications)