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The Analysis of Forward-Looking Monetary Policy in a SVAR Framework

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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Official URL: https://edoc.unibas.ch/61258/

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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
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
Identification Number:
  • handle: RePEc:bsl:wpaper:2005/10
Last Modified:09 Mar 2018 10:53
Deposited On:08 Mar 2018 08:50

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