The Leading eBooks Store Online 4,353,660 members ⚫ 1,442,818 ebooks

New to eBooks.com?

Learn more

Inflation Dynamics in FYR Macedonia

Inflation Dynamics in FYR Macedonia by Maral Shamloo
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
In this paper we study the dynamics of inflation in Macedonia, provide three forecasting tools and draw some policy conclusions from the quantitative results. We explore three forecasting methods for inflation. We use a Dynamic Factor Model (DFM) for short-term, monthly forecasting. We also develop two quarterly models: A Vector Error Correction Model (VECM), and a New Keynesian Phillips Curve (NKPC) for a more structural model of inflation. The NKPC shows a significant effect of output gap and inflation expectations on current inflation, confirming that the expectations channel of monetary transmission mechanism is strong. In terms of forecast-error variance, we show that all three models do very well in one-period ahead forecasting.
International Monetary Fund; December 2011
23 pages; ISBN 9781463988845
Read online, or download in secure EPUB or secure PDF format
Title: Inflation Dynamics in FYR Macedonia
Author: Maral Shamloo