Monetary Policy Analysis and Forecasting in the World Economy : : A Panel Unobserved Components Approach / / Francis Vitek

• Record Nr.: UNINA9910788223803321
• Autore: Vitek Francis
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2009
• ISBN: 1-4623-5374-6; 1-4518-7385-9; 1-4527-0465-1; 1-282-84439-3; 9786612844393
• Descrizione fisica: 42 p. : ill
• Collana: IMF Working Papers
• Soggetti: Monetary policy - Econometric models; Business cycles - Econometric models; Banks and Banking; Foreign Exchange; Inflation; Production and Operations Management; Bayesian Analysis: General; Multiple or Simultaneous Equation Models: Models with Panel Data; Model Construction and Estimation; Forecasting and Other Model Applications; Price Level; Deflation; Business Fluctuations; Cycles; Financial Markets and the Macroeconomy; Monetary Policy; Open Economy Macroeconomics; Interest Rates: Determination, Term Structure, and Effects; Macroeconomics: Production; Macroeconomics; Finance; Currency; Foreign exchange; Short term interest rates; Output gap; Real effective exchange rates; Long term interest rates; Financial services; Production; Prices; Interest rates; Economic theory; United States
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "October 2009."
• Sommario/riassunto: This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into its fifteen largest national economies. 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 novel Bayesian framework for conditioning on judgment.