Monetary Policy Analysis and Forecasting in the Group of Twenty: A Panel Unobserved Components Approach

Francis Vitek

No 2010/152, IMF Working Papers from International Monetary Fund

Abstract: This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into twenty national economies along the lines of the Group of Twenty. This structural macroeconometric model features extensive linkages between the real and financial sectors, both within and across economies. A variety of monetary policy analysis and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment.

Keywords: WP; monetary policy (search for similar items in EconPapers)
Pages: 47
Date: 2010-06-01
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Citations: View citations in EconPapers (5)

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