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...

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Detalhes bibliográficos
Autor principal: Laxton, Douglas
Outros Autores: Berg, Andrew, Karam, Philippe
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 2006.
coleção:IMF Working Papers; Working Paper ; No. 2006/081
Acesso em linha:Full text available on IMF
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245 1 0 |a Practical Model-Based Monetary Policy Analysis :   |b A How-To Guide /  |c Douglas Laxton, Andrew Berg, Philippe Karam. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Berg, Andrew. 
700 1 |a Karam, Philippe. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/081 
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