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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...

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...

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...

Incorporating Financial Stability in Inflation Targeting Frameworks

Incorporating Financial Stability in Inflation Targeting Frameworks »

Volume/Issue: 2011/224

Series: IMF Working Papers

Author(s): Burcu Aydin , and Engin Volkan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904326.001

ISBN: 9781463904326

Keywords: DSGE, financial accelerator, inflation, central bank, monetary shock, Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data), Financial Markets and the Macroeconomy, Monetary Policy

The global financial crisis has exposed the limitations of a conventional inflation targeting (IT) framework in insulating an economy from shocks, and demonstrated that its rigid application may aggravate the effec...

Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Innocent Bystanders? Monetary Policy and Inequality in the U.S. »

Volume/Issue: 2012/199

Series: IMF Working Papers

Author(s): John Silvia , Lorenz Kueng , Olivier Coibion , and Yuriy Gorodnichenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

DOI: http://dx.doi.org/10.5089/9781475505498.001

ISBN: 9781475505498

Keywords: Consumption Inequality, inflation, contractionary monetary policy, inflation target, monetary shocks, Business Fluctuations, And Cycles, money And Interest Rates, monetary Policy, Central Banking

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequa...

Monetary Policy Under EMU
			: Differences in the Transmission Mechanism?

Monetary Policy Under EMU : Differences in the Transmission Mechanism? »

Volume/Issue: 2001/102

Series: IMF Working Papers

Author(s): Benedict Clements , Zenon Kontolemis , and Joaquim Levy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

DOI: http://dx.doi.org/10.5089/9781451852615.001

ISBN: 9781451852615

Keywords: Transmission Mechanism, inflation, monetary transmission, central bank, monetary transmission mechanism, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation, Monetary Policy, Central Banking

This study identifies differences in the monetary policy transmission mechanism across the countries in the euro area. It is argued that part of the differences in the response of economic activity to monetary poli...

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

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

DOI: http://dx.doi.org/10.5089/9781475505573.001

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...

Incorporating Financial Stability in Inflation Targeting Frameworks

Incorporating Financial Stability in Inflation Targeting Frameworks »

Source: Incorporating Financial Stability in Inflation Targeting Frameworks

Volume/Issue: 2011/224

Series: IMF Working Papers

Author(s): Burcu Aydin , and Engin Volkan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463904326

Keywords: DSGE, financial accelerator, inflation, central bank, monetary shock, Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data), Financial Markets and the Macroeconomy, Monetary Policy

The global financial crisis has exposed the limitations of a conventional inflation targeting (IT) framework in insulating an economy from shocks, and demonstrated that its rigid application may aggravate the effec...