Issues in Modelling Monetary Policy

Malcolm Edey and John Romalis
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Malcolm Edey: Reserve Bank of Australia

RBA Research Discussion Papers from Reserve Bank of Australia

Abstract: This paper reviews issues in the econometric modelling of monetary policy in the light of recent experience and research. Two main sets of issues are covered: first, the operation of policy including the specification of the instrument and objectives; and second, the transmission of monetary policy effects to the wider economy. There is also a discussion of the inherent limitations on the ability to quantify the role of monetary policy in econometric models.

JEL-codes: E30 E40 E50 E52 O56 (search for similar items in EconPapers)
Date: 1996-10
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:rba:rbardp:rdp9604

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