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:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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260 |a Washington, D.C.  |b International Monetary Fund  |c 2009 
300 |a 42 pages 
651 4 |a United States 
653 |a Interest rates 
653 |a Inflation 
653 |a Finance 
653 |a Output gap 
653 |a Financial services 
653 |a Deflation 
653 |a Short term interest rates 
653 |a Real effective exchange rates 
653 |a Production 
653 |a Open Economy Macroeconomics 
653 |a Currency 
653 |a Model Construction and Estimation 
653 |a Macroeconomics: Production 
653 |a Price Level 
653 |a Foreign Exchange 
653 |a Cycles 
653 |a Forecasting and Other Model Applications 
653 |a Multiple or Simultaneous Equation Models: Models with Panel Data 
653 |a Banks and Banking 
653 |a Financial Markets and the Macroeconomy 
653 |a Prices 
653 |a Macroeconomics 
653 |a Business Fluctuations 
653 |a Interest Rates: Determination, Term Structure, and Effects 
653 |a Long term interest rates 
653 |a Economic theory 
653 |a Monetary Policy 
653 |a Foreign exchange 
653 |a Bayesian Analysis: General 
653 |a Production and Operations Management 
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520 |a 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