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Practical Model-Based Monetary Policy Analysis : A How-To Guide / Douglas Laxton, Andrew Berg, Philippe Karam.
- Format:
- Book
- Government document
- Author/Creator:
- Laxton, Douglas.
- Series:
- IMF Working Papers; Working Paper ; No. 2006/081
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Monetary policy--Econometric models--Canada.
- Monetary policy.
- Economic forecasting--Econometric models--Canada.
- Economic forecasting.
- Physical Description:
- 1 online resource (69 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2006.
- Language Note:
- English
- Summary:
- 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.
- Contents:
- ""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. BUILDING THE MODEL""; ""IV. FORECASTING AND POLICY ANALYSIS""; ""V. AN EXAMPLE""; ""VI. CONCLUSIONS""; ""REFERENCES""
- Notes:
- "March 2006."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613822123
- 9781462372010
- 1462372015
- 9781452790510
- 1452790515
- 9781282545366
- 1282545361
- 9781451908763
- 1451908768
- OCLC:
- 246926514
- Publisher Number:
- 250994 CaOOCEL (Public Documents)
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