European Parliament Library

Practical Model-Based Monetary Policy Analysis :, A How-To Guide, Douglas Laxton, Andrew Berg, Philippe Karam

Abstract
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
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. BUILDING THE MODEL""; ""IV. FORECASTING AND POLICY ANALYSIS""; ""V. AN EXAMPLE""; ""VI. CONCLUSIONS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
"March 2006."
Physical Description
1 online resource (69 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462372010

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