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Record Nr. |
UNINA9910788527303321 |
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Autore |
Laxton Douglas |
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Titolo |
Practical Model-Based Monetary Policy Analysis : : A How-To Guide / / Douglas Laxton, Andrew Berg, Philippe Karam |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-7201-5 |
1-4527-9051-5 |
1-282-54536-1 |
1-4519-0876-8 |
9786613822123 |
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Descrizione fisica |
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1 online resource (69 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Economic forecasting |
Monetary policy |
Foreign Exchange |
Inflation |
Macroeconomics |
Production and Operations Management |
Monetary Policy |
Money and Interest Rates: Forecasting and Simulation |
Model Construction and Estimation |
Computational Techniques |
Price Level |
Deflation |
Macroeconomics: Production |
Energy: Demand and Supply |
Prices |
Currency |
Foreign exchange |
Output gap |
Oil prices |
Real exchange rates |
Exchange rates |
Production |
Economic theory |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. BUILDING THE MODEL""; ""IV. FORECASTING AND POLICY ANALYSIS""; ""V. AN EXAMPLE""; ""VI. CONCLUSIONS""; ""REFERENCES"" |
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Sommario/riassunto |
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This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips) curve, a version of the uncovered interest parity condition, and a monetary policy reaction function. The paper discusses how to parameterize the model and use it for forecasting and policy analysis, illustrating with an application to Canada. It also introduces a set of useful software tools for conducting a model-consistent forecast. |
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