Search Results - subject:"Monetary Model"

Northern Star; Canada's Path to Economic Prosperity

Klyuev, Vladimir; Mühleisen, Martin; Bayoumi, Tamim - International Monetary Fund (IMF) - 2007

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...

Persistent link: https://www.econbiz.de/10011245903

Conventional and unconventional approaches to exchange rate modeling and assessment

Alquist, Ron; Chinn, Menzie D. - 2006

We examine the relative predictive power of the sticky price monetary model, uncovered interest parity, and a …

Persistent link: https://www.econbiz.de/10010285332

Exchange Rates and Fundamentals: Is there a Role for Nonlinearities in Real Time?

Aksoy, Yunus; Akdogan, Kurmas - Society for Computational Economics - SCE - 2006

We examine out of sample predictive power of real time monetary models with nonlinear adjustment in forecast errors for the Pound Sterling/US Dollar exchange rates. Real time revisions of U.K. and U.S. monetary aggregates and output are significant. By studying recursive out of sample forecast...

Persistent link: https://www.econbiz.de/10005537456

Determinacy and Expectational Stability of Equilibrium in a Monetary Sticky-Price Model with Taylor Rule

Kurozumi, Takushi - Bank of Japan - 2006

Recent studies show that the Taylor rule possesses desirable properties in terms of generating determinacy and E-stability of rational expectations equilibria under sticky prices. This paper examines whether this policy rule retains these properties within a discrete-time...

Persistent link: https://www.econbiz.de/10010894550

Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)

Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy are discussed in more details in the paper. Authors...

Persistent link: https://www.econbiz.de/10005036707

EVOLUTION OF DOLLAR/EURO EXCHANGE RATE BEFORE AND AFTER THE BIRTH OF EURO AND POLICY IMPLICATIONS

Chen, Heng; Fausten, Dietrich K.; Wong, Wing-Keung - Department of Econometrics and Business Statistics, … - 2006

One possible consequence of the establishment of the Euro is a challenge to the hegemony of the US dollar as the predominant international currency. No other currency has been able to rival the international role of the national currency of the US since World War II. The fact that the unipolar...

Persistent link: https://www.econbiz.de/10005064072

The Role of Seasonality and Monetary Policy in Inflation Forecasting

Kumah, Francis Y. - International Monetary Fund (IMF) - 2006

Adequate modeling of the seasonal structure of consumer prices is essential for inflation forecasting. This paper suggests a new econometric approach for jointly determining inflation forecasts and monetary policy stances, particularly where seasonal fluctuations of economic activity and prices...

Persistent link: https://www.econbiz.de/10005768850

Practical Model-Based Monetary Policy Analysis; A How-To Guide

Laxton, Douglas; Berg, Andrew; Karam, Philippe D - International Monetary Fund (IMF) - 2006

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)...

Persistent link: https://www.econbiz.de/10005599522

Inflation in Pakistan; Money or Wheat?

Khan, Mohsin S.; Schimmelpfennig, Axel - International Monetary Fund (IMF) - 2006

This paper examines the relative importance of monetary factors and structuralist supply-side factors for inflation in Pakistan. A stylized inflation model is specified that includes standard monetary variables (money supply, credit to the private sector), the exchange rate, as well as the wheat...

Persistent link: https://www.econbiz.de/10005604974

Ajuste de los fundamentos del modelo monetario en la determinación del tipo de cambio argentino

Clech, Néstor A. Le - In: Revista de Economía y Estadística XLIV (2006) 2, pp. 59-79

The aim of the present work is to examine the adequacy of adjustment of the monetary model in the determination of the … Argentine exchange rate and its capacity for short term forecast. The results validate the relations postulated by the monetary … model and demonstrate its quality in short run forecast, superior to a random walk model. Additionally, a model that …

Persistent link: https://www.econbiz.de/10008509107