Jordan, Thomas J. and Kugler, Peter and Lenz, Carlos and Savioz, Marcel R.. (2005) The Analysis of Forward-Looking Monetary Policy in a SVAR Framework. WWZ Discussion Papers, 2005 (10).
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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.
| Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften 12 Special Collections > WWZ Publications > WWZ Discussion Papers and Working Papers |
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| UniBasel Contributors: | Kugler, Peter and Jordan, Thomas and Lenz, Carlos |
| Item Type: | Working Paper |
| Publisher: | WWZ, University of Basel |
| Number of Pages: | 13 |
| Note: | Publication type according to Uni Basel Research Database: Discussion paper / Internet publication |
| Language: | English |
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| edoc DOI: | |
| Last Modified: | 09 Mar 2018 10:53 |
| Deposited On: | 08 Mar 2018 08:50 |
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