Monetary Policy Analysis and Forecasting in the World Economy: A Panel Unobserved Components Approach
Author/Editor: Francis Vitek
Release Date: © October, 2009
Stock #: WPIEA2009238
English
Stock Status: Available
Languages and formats available
| English | French | Spanish | Arabic | Russian | Chinese | Portuguese | |
| Paperback | Yes |
Description
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.
Keywords
Monetary Policy Analysis, Forecasting, World Economy, Panel Unobserved Components Model, Bayesian Conditioning On Judgment, Developed Countries, Economic Forecasting, Economic Models, Emerging Markets, Financial Sector, Monetary Transmission Mechanism
Taxonomy
Business cycles,
Economic development,
Economic policy,
Inflation,
International financial system,
Monetary policy
More publications in this series: Working Papers
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