A Practical Model-Based Approach to Monetary Policy Analysis--Overview

 
Author/Editor: Berg, Andrew ; Karam, Philippe D ; Laxton, Douglas
 
Publication Date: March 01, 2006
 
 
Summary: This paper motivates and describes an approach to forecasting and monetary policy analysis based on the use of a simple structural macroeconomic model, along the lines of those in use in a number of central banks. It contrasts this approach with financial programming and its emphasis on monetary aggregates, as well as with more econometrically driven analyses. It presents illustrative results from an application to Canada. A companion paper provides a more detailed how-to guide and introduces a set of tools designed to facilitate this approach.
 
Subject(s): Monetary policy | Canada | United States | Monetary aggregates | Forecasting models | Economic models

Author's Keyword(s): Monetary Policy | forecasting and simulation | model construction | and estimation
 
English
Publication Date: March 01, 2006
ISBN/ISSN: 0 / 1934-7073 Format: Paper
Stock No: WPIEA2006080 Pages: 45
Price:
US$15.00 (Academic Rate:
US$15.00 )
 
 
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