Search Results - subject:"Monetary aggregates"

Bayesian Vars; A Survey of the Recent Literature with An Application to the European Monetary System

Ciccarelli, Matteo; Rebucci, Alessandro - International Monetary Fund (IMF) - 2003

This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman (1986) and Doan et al. (1984) and review alternative...

Persistent link: https://www.econbiz.de/10005825693

Re-Establishing Credible Nominal Anchors After a Financial Crisis; A Review of Recent Experience

Zanello, Alessandro; Stone, Mark R.; Jarvis, Christopher J. - International Monetary Fund (IMF) - 2003

This paper studies the question of how to achieve monetary policy credibility and price stability after a financial crisis. We draw stylized facts and conclusions from ten recent cases: Brazil (1999); Bulgaria (1997); Ecuador (2000); Indonesia (1997); Korea (1997); Malaysia (1997); Mexico...

Persistent link: https://www.econbiz.de/10005825883

Does Money Include Information for Output in the Euro Area?

Reimers, Hans-Eggert - In: Swiss Journal of Economics and Statistics (SJES) 139 (2003) II, pp. 231-252

euro area, where simple sum and Divisia monetary aggregates are used. Adapting an in-sample analysis, all real monetary …. The out-of-sample forecasting exercise presents evidence that broadly defined monetary aggregates reduce the forecast … aggregates help to explain the output gap of the euro area regardless of what real interest rate is used to explain the IS curve …

Persistent link: https://www.econbiz.de/10005148849

Guinea; 2003 Article IV Consultation-Staff Report; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2003

In 2003, Guinea's macroeconomic management deteriorated significantly, and the prospects for 2003 are uncertain at best. Performance under the 2002â€“03 poverty reduction and growth facility (PRGF)-supported program is weak. The main challenge is to promote and sustain the strong private...

Persistent link: https://www.econbiz.de/10005252823

West African Economic and Monetary Union (WAEMU) ; Recent Economic Developments and Regional Policy Issues; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2003

This report examines recent economic developments and regional policy issues in the West African Economic and Monetary Union (WAEMU). Although progress has been achieved on the integration front since 1994, including the establishment of a customs union and the creation of the economic union,...

Persistent link: https://www.econbiz.de/10005252947

Money as an indicator variable for monetary policy when money demand is forward looking

Kajanoja, Lauri - Suomen Pankki - 2003

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We use a forward and backward looking model, calibrated for the euro area. The policymaker cannot completely observe the state of the economy. Money reveals some of the private...

Persistent link: https://www.econbiz.de/10005207135

The Construction of Continuity-Adjusted Monetary Aggregate Components

Kottaras, Jeannie - Bank of Canada - 2003

newly calculated continuity adjustments to components of the monetary aggregates. Continuity adjustments have previously …

Persistent link: https://www.econbiz.de/10005673274

Structural Breaks and Dynamic Characteristics of Inflation and Growth Rates of Monetary Aggregates

Pelipas, Igor - Belarusian Economic Research and Outreach Center - 2011

both on the basis of GDP deflator and consumer price index, as well as the growth rates of monetary aggregates M0, M1, M …The paper addresses the problem of determining the order of integration of inflation and growth rates of monetary … aggregates under the multiple structural breaks in dynamics of these variables. Discussing the existent approaches for unit root …

Persistent link: https://www.econbiz.de/10010726656

Parasal Analize Bir Bakis : Turkiye Ornegi

Ozdemir, K. Azim - In: Central Bank Review 11 (2011) 2, pp. 29-48

The primary goal of this study is to introduce monetary analysis for the Turkish economy in the light of empirical evidences that demonstrate the importance of this analysis for the economy. In the study we also focus on the implication of persistent money supply shocks, particularly shocks that...

Persistent link: https://www.econbiz.de/10009293991

The role of monetary aggregates in Chinese monetary policy implementation

Chen, Yuanquan; Werner, Richard A. - In: Journal of the Asia Pacific economy 16 (2011) 3, pp. 464-488

tight during 1998-2002. We conclude that an analysis of the traditional monetary aggregates is insufficient, and research on … much on quantitative monetary aggregates, if traditionally defined. (J Asia Pac Econ/GIGA) …

Persistent link: https://www.econbiz.de/10015180070