Macroeconomic Analysis Using Regional Data: An Application to Monetary Policy

2007 ◽  
pp. 440-459 ◽  
Author(s):  
Gerald A. Carlino ◽  
Robert H. DeFina
Keyword(s):  
Monetary Policy ◽  
Regional Data ◽  
Macroeconomic Analysis

scholarly journals INTRODUCTION TO THE SPECIAL ISSUE ON GROWTH, OPTIMAL FISCAL AND MONETARY POLICY, AND FINANCIAL FRICTIONS

2014 ◽  
Vol 19 (6) ◽  
pp. 1167-1170
Author(s):  
Georgios P. Kouretas ◽  
Athanasios P. Papadopoulos
Keyword(s):  
Monetary Policy ◽  
International Finance ◽  
Financial Frictions ◽  
Public Investment ◽  
Exchange Rate Policy ◽  
Special Issue ◽  
International Conference ◽  
Macroeconomic Analysis ◽  
The University ◽  
Fiscal And Monetary Policy

Since 1997, the Department of Economics of the University of Crete has organized an annual international conference on macroeconomic analysis and international finance. The articles included in this special issue are refereed versions of papers presented at the 17th International Conference on Macroeconomic Analysis and International Finance held at the University Campus, Rethymno, 30 May–1 June 2013, and submitted to Macroeconomic Dynamics in an open call for papers. The central theme of this Special Issue is Growth, Optimal Fiscal and Monetary Policy, and Financial Frictions. The topics discussed in this issue are endogenous growth and public investment and taxation; optimal inflation and fiscal and monetary policy; foreign reserve accumulation and China's exchange rate policy; and liquidity shocks and financial frictions. We begin the Special Issue with an overview of these papers.

Monetarism’s “renaissance”: How the well-known theorylived in 2000-2018

2018 ◽  
pp. 26-44 ◽  
Author(s):  
S. R. Moiseev
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Developing Economies ◽  
Main Tool ◽  
New School ◽  
Macroeconomic Analysis ◽  
Monetary Analysis ◽  
Monetary Targeting ◽  
Public Commitment ◽  
Area Of Influence

The classical monetarism passed away. However it was substituted by a new school that rose in 2005-2010 under the name of “new” monetarism. The new direction is rather young and its area of influence is limited to modeling. Several ideas of “old” monetarism are used in the practice of monetary policy: for example, monetary policy rules, monetary targeting in developing economies and using of money as an economic variable in the monetary analysis. Some important principles of monetarism have remained in the modern macroeconomic analysis. In particular, price stability is the ultimate, but not unique goal of any central bank. The public commitment of the central bank is the key for confidence to monetary policy. Monetary policy (but not fiscal policy) is considered as the main tool of short-term macroeconomic stabilization.

scholarly journals Quarterly Projection Model for the National Bank of Rwanda

2020 ◽  
Vol 20 (295) ◽  
Author(s):  
Jan Vlcek ◽  
Mikhail Pranovich ◽  
Patrick Hitayezu ◽  
Bruno Mwenese ◽  
Christian Nyalihama
Keyword(s):  
Monetary Policy ◽  
Agricultural Sector ◽  
Policy Framework ◽  
Projection Model ◽  
The Core ◽  
Macroeconomic Analysis ◽  
Monetary Policy Committee ◽  
National Bank ◽  
Analysis System ◽  
The Interest Rate

National Bank of Rwanda (BNR) modernized monetary policy and transited to the price-based policy framework in January 2019. The Forecasting and Policy Analysis System (FPAS) is the cornerstone for the new forward-looking framework, which mobilizes and organizes resources and sets processes for regular forecasting rounds. The core of this system is a structural macroeconomic model for macroeconomic analysis and projections to support the BNR staff’s policy recommendations to the monetary policy committee. This paper documents the quarterly projection model (QPM) at the core of the FPAS at the BNR. The model is an extension of the canonical structure in Berg et al (2006) to reflect specifics of the interest-rate-based policy framework with a managed exchange rate, the effect of agricultural sector and harvests on prices, and the role of fiscal policies and aid flows.

Imperfect Knowledge and Monetary Policy

2006 ◽  
Author(s):  
Vítor Gaspar ◽  
Otmar Issing ◽  
Oreste Tristani ◽  
David Vestin
Keyword(s):  
Monetary Policy ◽  
Imperfect Knowledge

Dampak Kebijakan Moneter Pada Output Di Negara-Negara ASEAN Tahun 1980-2014

2017 ◽  
Vol 4 (1) ◽  
pp. 58-70
Author(s):  
Nur Widiastuti
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Negative Relationship ◽  
Least Square ◽  
Fixed Effects Model ◽  
State Data ◽  
Ordinary Least Square ◽  
The Impact

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model

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