We examine the out-of-sample predictive power of real time linear monetary models with possible nonlinear adjustment in forecast errors for the GBP/USD exchange rates. Real time revisions of U.K. and U.S. monetary aggregates and output are significant; therefore the use of final data on...

This paper studies whether financial variables per se should matter for monetary policy. Earlier consensus view - using financial amplification models with disturbances that have no direct effect on credit market conditions- suggests that financial variables should not be assigned an independent...

In this study we investigate the duration of consumer price spells and the price change patterns for Turkey. The study employs the most comprehensive unofficial micro price data so far for Turkey covering around 6000 items over four years which comprises a major part of the Consumer Price Index...