scholarly journals Determinacy, Learnability, and Plausibility in Monetary Policy Analysis: Additional Results

2008 ◽  
Author(s):  
Bennett McCallum
Keyword(s):  
Monetary Policy ◽  
Policy Analysis

Debates on monetary policy issues and economic situation: Searching for constructive comments

2016 ◽  
pp. 25-43 ◽  
Author(s):  
A. Mogilat ◽  
Y. Achkasov ◽  
A. Egorov ◽  
A. Klimovets ◽  
S. Donets
Keyword(s):  
Monetary Policy ◽  
Business Cycle ◽  
Policy Analysis ◽  
Economic Situation ◽  
Policy Issues ◽  
Macroeconomic Conditions

The article discusses approaches and instruments used in the Bank of Russia public analytical materials for analysis and forecast of macroeconomic conditions and monetary indicators. The authors focus on indicators of business cycle and monetary conditions, as crucial for monetary policy analysis. The attention is paid to issues most frequently discussed in scientific and expert literature, specifically, to new indicators and models presented in the Bank of Russia Monetary Policy Reports in 2015.

Modelling Monetary Policy

2021 ◽  
pp. 293-316
Author(s):  
Juan Antonio Morales ◽  
Paul Reding
Keyword(s):  
Monetary Policy ◽  
Policy Analysis ◽  
Policy Decision ◽  
Central Banks ◽  
Dynamic Stochastic General Equilibrium ◽  
Dsge Models ◽  
Dynamic Stochastic ◽  
Policy Decision Making

This last chapter deals with the toolbox that central banks use to design and implement their monetary policy strategy. Central banks develop various types of model, both for forecasting and for policy analysis. The chapter discusses the main characteristics of the models used, their strengths and limitations. It assesses how dynamic stochastic general equilibrium (DSGE) models are used for monetary policy analysis. Examples are provided on how they contribute to explore fundamental, long-term policy issues specific to LFDCs. The chapter also discusses the contribution of small semi-structural models which, though less strongly theory grounded than DSGE models, can be brought closer to the available data and are therefore possibly better suited to the context of LFDCs. Attention is also drawn to the key role of judgement as the indispensable complement, in monetary policy decision-making, to model-based policy analysis.

scholarly journals A simple framework for international monetary policy analysis

2002 ◽  
Vol 49 (5) ◽  
pp. 879-904 ◽  
Author(s):  
Richard Clarida ◽  
Jordi Galı́ ◽  
Mark Gertler
Keyword(s):  
Monetary Policy ◽  
Policy Analysis ◽  
International Monetary Policy
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