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Endogenous Monetary Policy Credibility in a Small Macro Model of Israel

Argov, Eyal; Rose, David; Karam, Philippe D; Epstein, … - International Monetary Fund (IMF) - 2007

This paper extends a small linear model of the Israeli economy to allow for nonlinearities in the inflation …

Persistent link: https://www.econbiz.de/10005248242

A Small Quarterly Projection Model of the US Economy

Ermolaev, Igor; Juillard, Michel; Carabenciov, Ioan; … - International Monetary Fund (IMF) - 2008

This is the first of a series of papers that are being written as part of a project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. In this paper, we estimate a small...

Persistent link: https://www.econbiz.de/10005263685

Monetary Transmission in an Emerging Targeter; The Case of Brazil

Pagan, A. R.; Laxton, Douglas; Catão, Luis - International Monetary Fund (IMF) - 2008

changes have swifter effects on output and inflation compared to advanced economies and that exchange rate dynamics plays a … key role in this connection. Importantly, the response of inflation to monetary policy shocks has grown stronger and the … output-inflation tradeoff improved since the introduction of inflation targeting. …

Persistent link: https://www.econbiz.de/10005263748

Monetary Policy Credibility and the Unemployment-Inflation Tradeoff; Some Evidence From 17 Industrial Countries

Papa M'B. P. N'Diaye; Laxton, Douglas - International Monetary Fund (IMF) - 2002

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

Persistent link: https://www.econbiz.de/10005263831

Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility

Isard, Peter; Laxton, Douglas; Eliasson, Ann-Charlotte - International Monetary Fund (IMF) - 2001

a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed … inflation expectations respond endogenuously policy credibility strengthens the case for forward-looking inflation forecast …

Persistent link: https://www.econbiz.de/10005263924

A Small Quarterly Multi-Country Projection Model with Financial-Real Linkages and Oil Prices

Juillard, Michel; Freedman, Charles; Korshunov, Dmitry; … - International Monetary Fund (IMF) - 2008

This is the third of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. In this paper, we estimate a small...

Persistent link: https://www.econbiz.de/10005264080

Constructing Forecast Confidence Bands During the Financial Crisis

Clinton, Kevin; Johnson, Marianne; Chen, Huigang; … - International Monetary Fund (IMF) - 2009

Japan. In the model, the price of oil is a stochastic process, interest rates have a zero floor, and bank lending tightening …

Persistent link: https://www.econbiz.de/10008559263

A Small Quarterly Multi-Country Projection Model

Laxton, Jared; Ermolaev, Igor; Freedman, Charles; … - International Monetary Fund (IMF) - 2008

This is the second of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. In this paper, we estimate a small...

Persistent link: https://www.econbiz.de/10005825847

DSGE Modeling At the Fund; Applications and Further Developments

Botman, Dennis P. J.; Rose, David; Laxton, Douglas; … - International Monetary Fund (IMF) - 2007

Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large...

Persistent link: https://www.econbiz.de/10005826064

Developing a Structured Forecasting and Policy Analysis System to Support Inflation-Forecast Targeting (IFT)

Laxton, Douglas; Scott, Alasdair; Rose, David - International Monetary Fund (IMF) - 2009

This paper presents a basic plan for developing a Forecast and Policy Analysis System designed to support an inflation …

Persistent link: https://www.econbiz.de/10005826216