Hidden Bibliographic Details
| Other authors / contributors: | Berg, Andrew.
Karam, Philippe D.
Laxton, Douglas.
International Monetary Fund.
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| ISBN: | 1451908768
9781451908763
9781451863413
1451863411
9781451908763
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| Digital file characteristics: | data file
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| Notes: | Available in PDF, ePUB, and Mobi formats on the Internet.
Includes bibliographical references (pages 62-67).
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| Summary: | 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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| Standard no.: | 10.5089/9781451908763.001
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