Practical model-based monetary policy analysis : a how-to guide / Andrew Berg, Philippe Karam, and Douglas Laxton.
This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips) curve, a...
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