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

Arbeitspapier

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.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: WWZ Discussion Paper ; No. 2005/10

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Monetary Policy ; Central Banks and Their Policies
• Thema: Structural VAR ; forward-looking monetary policy ; efficiency frontier

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Jordan, Thomas J. ; Kugler, Peter ; Lenz, Carlos ; Savioz, Marcel R.
• Ereignis: Veröffentlichung
• (wer): University of Basel, Center of Business and Economics (WWZ)
• (wo): Basel
• (wann): 2005

Weitere Informationen

• DOI: doi:10.5451/unibas-ep61258
• Handle: http://hdl.handle.net/10419/123355
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ