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The Information Content of Money in Forecasting Euro Area Inflation /
This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using Bay...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2008.
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| Colección: | IMF Working Papers ;
Working Paper no. 08/166. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Stavrev, Emil. | |
| 245 | 1 | 4 | |a The Information Content of Money in Forecasting Euro Area Inflation / |c Stavrev, Emil. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2008. | ||
| 300 | |a 1 online resource (29 pages) | ||
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| 490 | 1 | |a IMF Working Papers, |x 2227-8885 ; |v Working Paper No. 08/166 | |
| 500 | |a Available in PDF, ePUB, and Mobi formats on the Internet. | ||
| 520 | 3 | |a This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating money perform better than their cashless counterparts. But there are also indications that the contribution of money has its limits. The marginal contribution of money to forecasting accuracy is often small, money adds little to dynamic factor models, and it worsens forecasting accuracy of partial equilibrium models. Finally, non-monetary models dominate monetary models in an all-out horserace. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Inflation (Finance) |x Forecasting |x Econometric models. | |
| 650 | 0 | |a Monetary policy |x Econometric models. | |
| 650 | 0 | |a Money |x Econometric models. | |
| 650 | 6 | |a Inflation |x Prévision |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |x Modèles économétriques. | |
| 650 | 7 | |a Inflation (Finance) |x Forecasting |x Econometric models |2 fast | |
| 650 | 7 | |a Monetary policy |x Econometric models |2 fast | |
| 650 | 7 | |a Money |x Econometric models |2 fast | |
| 700 | 1 | |a Berger, Helge. | |
| 700 | 1 | |a Stavrev, Emil. | |
| 710 | 2 | |a International Monetary Fund. | |
| 730 | 0 | |a IMF eLibrary. | |
| 830 | 0 | |a IMF Working Papers ; |v Working Paper no. 08/166. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607942 |z Texto completo |
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