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Monetary Policy Analysis and Forecasting in the World Economy A Panel Unobserved Components Approach

This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into its fifteen largest national economies. This structural macroeconometric model features extensive linkages between the real and financial sectors, both within and a...

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Bibliographic Details
Main Author: Vitek, Francis
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Interest Rates
Inflation
Finance
Output Gap
Currency; Foreign Exchange
Financial Services
Deflation
Short Term Interest Rates
Production
Real Effective Exchange Rates
Open Economy Macroeconomics
Production; Economic Theory
Model Construction And Estimation
Macroeconomics: Production
Price Level
Foreign Exchange
Cycles
Forecasting And Other Model Applications
Multiple Or Simultaneous Equation Models: Models With Panel Data
Banks And Banking
Financial Markets And The Macroeconomy
Prices
Macroeconomics
Business Fluctuations
Interest Rates: Determination, Term Structure, And Effects
Long Term Interest Rates
Monetary Policy
Bayesian Analysis: General
Production And Operations Management
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into its fifteen largest national economies. This structural macroeconometric model features extensive linkages between the real and financial sectors, both within and across economies. A variety of monetary policy analysis and forecasting applications of the estimated model are demonstrated, based on a novel Bayesian framework for conditioning on judgment
Physical Description:42 pages
ISBN:9781451873856

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