Series: IMF Working Papers
Author(s): Emil Stavrev , and Helge Berger
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 2008
Keywords: Information content of money, inflation forecasting, New Keynesian model, DSGE model, P* model, Two-pillar Phillips curve, VAR model, general dynamic factor model, Bayesian estimation, aggregate demand
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...