Monetary Policy Analysis and Forecasting in the Group of Twenty [electronic resource] : A Panel Unobserved Components Approach / Francis Vitek.
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TextSeries: IMF Working Papers; Working Paper ; No. 10/152Publication details: Washington, D.C. : International Monetary Fund, 2010Description: 1 online resource (47 p.)ISBN: 1455201359 :ISSN: 1018-5941Subject(s): Bayesian Analysis | Bayesian Conditioning On Judgment | Financial Markets and the Macroeconomy | Forecasting and Other Model Applications | Inflation | Model Construction and Estimation | Canada | China, People's Republic of | Saudi Arabia | United StatesAdditional physical formats: Print Version:: Monetary Policy Analysis and Forecasting in the Group of Twenty : A Panel Unobserved Components ApproachOnline resources: IMF e-Library | IMF Book Store Abstract: This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into twenty national economies along the lines of the Group of Twenty. 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 Bayesian framework for conditioning on judgment.
This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into twenty national economies along the lines of the Group of Twenty. 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 Bayesian framework for conditioning on judgment.
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