This is excellent advice. First, though, do this:
Gently fold the jacket and place it into a large plastic garbage bag. Sprinkle a moderate amount of baking soda onto the jacket-enough to give the entire thing a light coating. Seal the bag and leave it alone for a few days.
Then take the bag outdoors, remove the jacket, and shake out all of the baking soda. Then hang it up outside.
Be patient. The musty odor might dissipate in a matter of days, but you might have to wait a couple of weeks. It will indeed go away, however.