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Autore: | Berger Helge |
Titolo: | The information content of money in forecasting euro area inflation / / Helge Berger and Emil Stavrev ; authorized for distribution by Jörg Decressin |
Pubblicazione: | [Washington, District of Columbia] : , : International Monetary Fund, , 2008 |
©2008 | |
Descrizione fisica: | 1 online resource (31 p.) |
Disciplina: | 332.46 |
Soggetto topico: | Monetary policy - Econometric models |
Money - Econometric models | |
Inflation (Finance) - Forecasting - Econometric models | |
Soggetto genere / forma: | Electronic books. |
Altri autori: | StavrevEmil DecressinJörg |
Note generali: | Description based upon print version of record. |
Nota di bibliografia: | Includes bibliographical references. |
Nota di contenuto: | Contents; I. Introduction; II. Related Literature; III. Models of Inflation; A. DSGE Models; B. Partial Equilibrium Models; C. Empirical Models; IV. Empirical Methods and Data; A. Estimation Techniques; B. Prior Distribution of Parameters for the Bayesian Estimates; C. Forecasting and the Information Content of Money; D. Data; V. Results; A. The Marginal Contribution of Money; Figures; 1. Forecast Performance of DSGE Models; 2. Forecast Performance of Empirical Models; 3. Forecast Performance of P* and Phillips Curve Models; B. Comparison of Money-Based Models; C. Comparison Across All Models |
Tables1. Out-of-Sample Forecasting Performance of Models; VI. Conclusions; References; Appendices; I. Empirical Specifications; II. Bayesian Priors | |
Sommario/riassunto: | This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating money perform better than their cashless counterparts. But there are also indications that the contribution of mon |
Titolo autorizzato: | The information content of money in forecasting euro area inflation |
ISBN: | 1-4623-1341-8 |
1-4527-4908-6 | |
1-4518-7024-8 | |
1-282-84117-3 | |
9786612841170 | |
Formato: | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910463618503321 |
Lo trovi qui: | Univ. Federico II |
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