Search Results - subject:"Real Time data"

The Effects of Monetary Policy in the Czech Republic: An Empirical Study

Borys, Magdalena Morgese; Horvath, Roman - Česká Národní Banka - 2008

In this paper, we examine the effects of Czech monetary policy on the economy within the VAR, structural VAR, and factor-augmented VAR frameworks. We document a wellfunctioning transmission mechanism similar to the euro area countries, especially in terms of persistence of monetary policy...

Persistent link: https://www.econbiz.de/10005765474

Data Revisions, Gradualism, and US Inflation Pressure in Real Time

Siklos, Pierre L.; Weymark, Diana N. - Vanderbilt University Department of Economics - 2008

Uncertainties associated with the informational content of real-time data and the impact of policy initiatives on …

Persistent link: https://www.econbiz.de/10005595927

Nowcasting, Business Cycle Dating and the Interpretation of New Information when Real Time Data are Available

Olekalns, Nilss; Shields, Kalvinder - Department of Economics, Faculty of Business and Economics - 2008

A canonical model is described which reflects the real time informational context of decision-making. Comparisons are drawn with ‘conventional’ models that incorrectly omit market-informed insights on future macroeconomic conditions and inappropriately incorporate information that was not...

Persistent link: https://www.econbiz.de/10005750829

Seasonality in revisions of macroeconomic data

Franses, Ph.H.B.F.; Segers, R. - Erasmus University Rotterdam, Econometric Institute - 2008

: Seasonality, real-time data JEL Classification Codes: C32, C52, C82, E20 … add to that. There are many recent studies on the properties of real time data, and recent summaries are given in …

Persistent link: https://www.econbiz.de/10005795595

Short-Term Forecasts of Euro Area GDP Growth

Giannone, Domenico; Reichlin, Lucrezia; Angelini, Elena; … - European Centre for Advanced Research in Economics and … - 2008

This paper evaluates models that exploit timely monthly releases to compute early estimates of current quarter GDP (now-casting) in the euro area. We compare traditional methods used at institutions with a new method proposed by Giannone, Reichlin, and Small (2005). The method consists in...

Persistent link: https://www.econbiz.de/10005827105

Short-Term Forecasting of GDP Using Large Monthly Datasets: A Pseudo Real-Time Forecast Evaluation Exercise

Rünstler, G.; Barhoumi, K.; Benk, S.; Cristadoro, R.; … - Lietuvos Bankas - 2008

This paper evaluates different models for the short-term forecasting of real GDP growth in ten selected European countries and the euro area as a whole. Purely quarterly models are compared with models designed to exploit early releases of monthly indicators for the nowcast and forecast of...

Persistent link: https://www.econbiz.de/10005827651

Monetary Policy Evaluation in Real Time: Forward-Looking Taylor Rules Without Forward-Looking Data

Nikolsko-Rzhevskyy, Alex - Volkswirtschaftliche Fakultät, … - 2008

with real-time data. For the case of the U.S., this analysis can be performed using Greenbook data, but only through 2002 … methodology for conducting monetary policy evaluation in real-time when forward-looking real-time data is unavailable. I then …

Persistent link: https://www.econbiz.de/10005835684

Inflation Persistence and the Taylor Principle

Murray, Christian; Nikolsko-Rzhevskyy, Alex; Papell, David - Volkswirtschaftliche Fakultät, … - 2008

Although the persistence of inflation is a central concern of macroeconomics, there is no consensus regarding whether or not inflation is stationary or has a unit root. We show that, in the context of a “textbook” macroeconomic model, inflation is stationary if and only if the Taylor rule...

Persistent link: https://www.econbiz.de/10005837315

The Effects of Monetary Policy in the Czech Republic: An Empirical Study

Borys, Magdalena M; Horvath, Roman - William Davidson Institute, University of Michigan - 2008

policy transmission, VAR, real-time data, sectoral prices JEL Codes: E52, E58, E31 We thank two anonymous referees, Oxana … that, to incorporate real time and forward looking variables into the VAR analysis. To our knowledge, real time data has … responses of GDP to interest rate shock are less precisely estimated, and thus our findings point to an importance of real-time …

Persistent link: https://www.econbiz.de/10008528998

Federal Reserve Policy viewed through a Money Supply Loss

Chowdhury, Ibrahim; Schabert, Andreas - Tinbergen Institute - 2008

Federal Reserve nonborrowed reserve supply systematically responded to changes in inflation and in the output gap over the period 1969-2000. While the feedback from output gap is always negative, the response of money supply to changes in inflation varies considerably across time. Nonborrowed...

Persistent link: https://www.econbiz.de/10005144402