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Quarterly Projection Model for Ukraine

Anton Grui () and Artem Vdovychenko
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Anton Grui: National Bank of Ukraine

No 03/2019, Working Papers from National Bank of Ukraine

Abstract: This paper introduces the Quarterly Projection Model utilized by the National Bank of Ukraine to make its regular macroeconomic forecasts and monetary policy recommendations. The model is a semi-structural representation of an open-economy New-Keynesian general equilibrium model. It captures the transmission mechanism of monetary policy in the context of the Ukrainian economy. Among the economy’s key features are the disinflation agenda, heterogeneous prices, imperfect monetary policy credibility, high openness and dollarization.

Keywords: National Bank of Ukraine; inflation targeting; monetary policy; projection model; monetary policy transmission mechanism in Ukraine. (search for similar items in EconPapers)
JEL-codes: C52 C53 E37 E52 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2019-09
New Economics Papers: this item is included in nep-cis, nep-dge, nep-mac, nep-ore and nep-tra
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Handle: RePEc:ukb:wpaper:03/2019