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Practical model-based monetary policy analysis : a how-to guide /
This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips) curve, a...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2006
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| Colección: | IMF working paper ;
WP/06/81. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips) curve, a version of the uncovered interest parity condition, and a monetary policy reaction function. The paper discusses how to parameterize the model and use it for forecasting and policy analysis, illustrating with an application to Canada. It also introduces a set of useful software tools for conducting a model-consistent forecast. |
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| Notas: | Cover title. "March 2006." |
| Descripción Física: | 1 online resource (67 pages) |
| Bibliografía: | Includes bibliographical references (pages 62-67). |
| ISBN: | 1282545361 9781282545366 9781451908763 1451908768 |