type="main" xml:id="obes12046-abs-0001" <title type="main">Abstract</title> <p>This article considers some of the technical issues involved in using the global vector autoregression (GVAR) approach to construct a multi-country rational expectations (RE) model and illustrates them with a new Keynesian model for 33 countries...</p>

This paper considers the problem of forecasting real and financial macroeconomic variables across a large number of countries in the global economy. To this end, a global vector autoregressive (GVAR) model previously estimated over the 1979:Q1-2003:Q4 period by Dees, de Mauro, Pesaran, and Smith...

This paper extends the cross-sectionally augmented panel unit root test (CIPS) proposed by Pesaran (2007) to the case of a multifactor error structure, and proposes a new panel unit root test based on a simple average of cross-sectionally augmented Sargan–Bhargava statistics (CSB). The basic...