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ABOUT INFLATION? -- V. SUMMARY AND CONCLUSIONS -- References. …
Persistent link: https://www.econbiz.de/10012691177
money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …
Persistent link: https://www.econbiz.de/10012677626
This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …
Persistent link: https://www.econbiz.de/10012677694
Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess...
Persistent link: https://www.econbiz.de/10009615556
-- III. Survey of the Theoretical Debate -- IV. The Importance of Money for Inflation Forecasts -- V. Disaggregated Monetary …
Persistent link: https://www.econbiz.de/10012682180
Some recent studies suggest the possibility of estimating a stable aggregate demand-for-money relationship for the group of countries participating in the European Monetary System. These results are of particular relevance in connection with the task of setting policy targets for a European...
Persistent link: https://www.econbiz.de/10005264074
This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman (1986) and Doan et al. (1984) and review alternative...
Persistent link: https://www.econbiz.de/10005825693
This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector … demonstrates that the exchange rate and international inflation have a strong impact on local prices. Available monetary …
Persistent link: https://www.econbiz.de/10008519491
income elasticity of less than unity. Current inflation is found to have a significant negative impact on the real money …
Persistent link: https://www.econbiz.de/10008528622
This paper develops an approach for forecasting in Thailand core inflation. The key innovation is to anchor the … projections derived from the short-term time-series properties of core inflation to its longer-run evolution. This involves … goodness-of-fit criteria, with an equilibrium-correction model that pins down the convergence of core inflation to its longer …
Persistent link: https://www.econbiz.de/10005605247