This paper describes the Quarterly Macro Forecasting Framework (QMFF), which is a novel approach to macroeconomic policy analysis and forecasting. At the core of this framework is a Quarterly Projection Model, with main behavioral equations quantified as deviations of real variables from their...

The paper describes QMPM, the Quarterly Projection Model for the Bank of Algeria that underpins the Bank’s Forecasting and Policy Analysis System. The model is designed to capture the key features of the economy, including the importance of the hydrocarbon sector, sizable fiscal policy...