The Analysis of Forward-Looking Monetary Policy in a SVAR Framework

Thomas J. Jordan, Peter Kugler (), Carlos Lenz and Marcel Savioz ()
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Peter Kugler: University of Basel

Working papers from Faculty of Business and Economics - University of Basel

Abstract: This paper analyzes forward-looking monetary policy rules in structural VAR's. First, an approach for modeling a monetary policy which aims at a strict medium term inflation or output growth target is developed. Second, the ex ante inflation-output-growth volatility trade-off for a forward-looking policy aiming at a convex combination these strategies is derived. Finally, an illustration of our approach using Swiss data is given.

Keywords: Structural VAR; forward-looking monetary policy; efficiency frontier (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2005-03-01
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:bsl:wpaper:2005/10

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