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Depression econometrics: A FAVAR model of monetary policy during the great depression
Ahmadi, Pooyan Amir; Ritschl, Albrecht - 2009
The prominent role of monetary policy in the U.S. interwar depression has been conventional wisdom since Friedman and Schwartz [1963]. This paper presents evidence on both the surprise and the systematic components of monetary policy between 1929 and 1933. Doubts surrounding GDP estimates for...
Persistent link: https://www.econbiz.de/10010270715
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Depression econometrics : a FAVAR model of monetary policy during the great depression
Ahmadi, Pooyan Amir; Ritschl, Albrecht - 2009
The prominent role of monetary policy in the U.S. interwar depression has been conventional wisdom since Friedman and Schwartz [1963]. This paper presents evidence on both the surprise and the systematic components of monetary policy between 1929 and 1933. Doubts surrounding GDP estimates for...
Persistent link: https://www.econbiz.de/10003904615
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The Effects of Conventional and Unconventional Monetary Policy on Forecasting the Yield Curve
Eo, Yunjong - 2020
. The diminished role of the no-arbitrage restriction in forecasting the yield curve since 2009 can be attributed to …
Persistent link: https://www.econbiz.de/10012849587
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Modest Policy Interventions
Leeper, Eric M. - 2015
This paper brings together identification and forecasting in a positive econometric analysis of policy. We contend that …
Persistent link: https://www.econbiz.de/10013032673
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Modest Policy Interventions
Leeper, Eric M. - 2015
The authors present a framework for computing and evaluating linear projections of macro variables conditional on hypothetical paths of monetary policy. A modest policy intervention is a change in policy that does not significantly shift agents' beliefs about policy regime and does not generate...
Persistent link: https://www.econbiz.de/10013028586
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Policy Analysis and Forecasting in the World Economy : A Panel Unobserved Components Approach
Vitek, Francis - 2012
policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a …
Persistent link: https://www.econbiz.de/10013102206
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Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach
Vitek, Francis - 2014
forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment …
Persistent link: https://www.econbiz.de/10013060545
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Overview of the Macedonian Policy Analysis Model (MAKPAM)
Hlédik, Tibor; Bojceva Terzijan, Sultanija; Jovanovic, … - Narodna Banka na Republika Makedonija - 2016
of Macedonia (NBRM) for medium term macroeconomic forecasting and policy analysis. The MAKPAM is a medium scale, New … important block of the macroeconomic forecasting system of the NBRM. The model is therefore an important analytic tool for …
Persistent link: https://www.econbiz.de/10011623918
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Evaluating monetary policy effectiveness in North Macedonia : evidence from a Bayesian FAVAR Framework
Petrovska, Magdalena; Tonovska, Jasna; Nikolov, Miso; … - 2023
This paper has adopted a Bayesian FAVAR approach to examine the monetary transmission mechanism in North Macedonia. The model is based on a broad data set that encompasses 140 monthly time series spanning between January 2010 and January 2019. In particular, the impact of policy on bank...
Persistent link: https://www.econbiz.de/10013549755
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Forecasting and policy making
Wieland, Volker; Wolters, Maik H. - 2012
Persistent link: https://www.econbiz.de/10010394237