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Bayesian Dynamic Factor Analysis of a Simple Monetary DSGE Model

Bayesian Dynamic Factor Analysis of a Simple Monetary DSGE Model »

Source: Bayesian Dynamic Factor Analysis of a Simple Monetary DSGE Model

Volume/Issue: 2011/219

Series: IMF Working Papers

Author(s): Maxym Kryshko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463904210

Keywords: Regular and data-rich DSGE models, dynamic factor models, Bayesian estimation, inflation, real output, money demand, money balances, Bayesian Analysis, Multiple or Simultaneous Equation Models: Time-Series Models, Prices

When estimating DSGE models, the number of observable economic variables is usually kept small, and it is conveniently assumed that DSGE model variables are perfectly measured by a single data series. Building upon...

The Cyclicality of Sales, Regular and Effective Prices

The Cyclicality of Sales, Regular and Effective Prices »

Source: The Cyclicality of Sales, Regular and Effective Prices : Business Cycle and Policy Implications

Volume/Issue: 2012/207

Series: IMF Working Papers

Author(s): Olivier Coibion , Yuriy Gorodnichenko , and Gee Hee Hong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505573

Keywords: Sales, Price Changes, Store-Switching, inflation, monetary policy, price inflation, inflation rate, inflation rates, Business Fluctuations, And Cycles

We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety...

Data-Rich DSGE and Dynamic Factor Models

Data-Rich DSGE and Dynamic Factor Models »

Source: Data-Rich DSGE and Dynamic Factor Models

Volume/Issue: 2011/216

Series: IMF Working Papers

Author(s): Maxym Kryshko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463903497

Keywords: Data-rich DSGE models, dynamic factor models, Bayesian estimation, inflation, monetary policy, real output, monetary base, monetary economics, Bayesian Analysis, Multiple or Simultaneous Equation Models: Time-Series Models

Dynamic factor models and dynamic stochastic general equilibrium (DSGE) models are widely used for empirical research in macroeconomics. The empirical factor literature argues that the co-movement of large panels o...

Elements of Optimal Monetary Policy Committee Design1

Elements of Optimal Monetary Policy Committee Design1 »

Source: Elements of Optimal Monetary Policy Committee Design

Volume/Issue: 2006/277

Series: IMF Working Papers

Author(s): Jérôme Vandenbussche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

ISBN: 9781451865370

Keywords: collective decision making, inflation, central bank, monetary policy decisions, inflation targeting, Analysis Of Collective Decision-making, Monetary Policy, Central Banking, And The Supply Of Money And Credit,

The move from individual decision making to committee decision making is widely seen as a major evolution in contemporary central banking. This paper reviews the relevant economics and social psychology literatures...

Financial Dollarization in Latin America1

Financial Dollarization in Latin America1 »

Source: Financial Dollarization in Latin America

Volume/Issue: 2006/7

Series: IMF Working Papers

Author(s): Robert Rennhack , and Masahiro Nozaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862676

Keywords: foreign currency, exchange rate, inflation, exchange rate flexibility, real exchange rate, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Financial Institutions and Services: General,

This paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The paper builds on p...

Bayesian Dynamic Factor Analysis of a Simple Monetary DSGE Model

Bayesian Dynamic Factor Analysis of a Simple Monetary DSGE Model »

Volume/Issue: 2011/219

Series: IMF Working Papers

Author(s): Maxym Kryshko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904210.001

ISBN: 9781463904210

Keywords: Regular and data-rich DSGE models, dynamic factor models, Bayesian estimation, inflation, real output, money demand, money balances, Bayesian Analysis, Multiple or Simultaneous Equation Models: Time-Series Models, Prices

When estimating DSGE models, the number of observable economic variables is usually kept small, and it is conveniently assumed that DSGE model variables are perfectly measured by a single data series. Building upon...

Financial Dollarization in Latin America

Financial Dollarization in Latin America »

Volume/Issue: 2006/7

Series: IMF Working Papers

Author(s): Robert Rennhack , and Masahiro Nozaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

DOI: http://dx.doi.org/10.5089/9781451862676.001

ISBN: 9781451862676

Keywords: foreign currency, exchange rate, inflation, exchange rate flexibility, real exchange rate, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Financial Institutions and Services: General,

This paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The paper builds on p...

Data-Rich DSGE and Dynamic Factor Models

Data-Rich DSGE and Dynamic Factor Models »

Volume/Issue: 2011/216

Series: IMF Working Papers

Author(s): Maxym Kryshko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463903497.001

ISBN: 9781463903497

Keywords: Data-rich DSGE models, dynamic factor models, Bayesian estimation, inflation, monetary policy, real output, monetary base, monetary economics, Bayesian Analysis, Multiple or Simultaneous Equation Models: Time-Series Models

Dynamic factor models and dynamic stochastic general equilibrium (DSGE) models are widely used for empirical research in macroeconomics. The empirical factor literature argues that the co-movement of large panels o...

Elements of Optimal Monetary Policy Committee Design

Elements of Optimal Monetary Policy Committee Design »

Volume/Issue: 2006/277

Series: IMF Working Papers

Author(s): Jérôme Vandenbussche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865370.001

ISBN: 9781451865370

Keywords: collective decision making, inflation, central bank, monetary policy decisions, inflation targeting, Analysis Of Collective Decision-making, Monetary Policy, Central Banking, And The Supply Of Money And Credit,

The move from individual decision making to committee decision making is widely seen as a major evolution in contemporary central banking. This paper reviews the relevant economics and social psychology literatures...

Improving the Monetary Policy Frameworks in Central America

Improving the Monetary Policy Frameworks in Central America »

Volume/Issue: 2011/245

Series: IMF Working Papers

Author(s): Stephanie Medina Cas , Alejandro Carrion-Menendez , and Florencia Frantischek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

DOI: http://dx.doi.org/10.5089/9781463923242.001

ISBN: 9781463923242

Keywords: inflation, central bank, price stability, reserve requirements, Monetary Policy, Central Banking, and the Supply of Money and Credit: General,

Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengtheni...