skip to content
The Information Content of Money in Forecasting Euro Area Inflation Preview this item
ClosePreview this item
Checking...

The Information Content of Money in Forecasting Euro Area Inflation

Author: Emil Stavrev; Helge Berger; International Monetary Fund.
Publisher: Washington, D.C. : International Monetary Fund, 2008.
Series: IMF Working Papers, Working Paper no. 08/166.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money contains relevant information for inflation in some model  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: Electronic books
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Emil Stavrev; Helge Berger; International Monetary Fund.
ISBN: 1451914776 9781451914771
OCLC Number: 867082364
Notes: Available in PDF, ePUB, and Mobi formats on the Internet.
Description: 1 online resource (29 pages).
Series Title: IMF Working Papers, Working Paper no. 08/166.
Other Titles: IMF eLibrary.
Responsibility: Stavrev, Emil.

Abstract:

This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating money perform better than their cashless counterparts. But there are also indications that the contribution of money has its limits. The marginal contribution of money to forecasting accuracy is often small, money adds little to dynamic factor models, and it worsens forecasting accuracy of partial equilibrium models. Finally, non-monetary models dominate monetary models in an all-out horserace.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/867082364> # The Information Content of Money in Forecasting Euro Area Inflation
    a schema:CreativeWork, schema:Book, schema:MediaObject ;
    library:oclcnum "867082364" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/dcu> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/146466162#Place/washington_d_c> ; # Washington, D.C.
    rdfs:comment "Unknown 'gen' value: igp" ;
    rdfs:seeAlso <http://experiment.worldcat.org/entity/work/data/146466162#CreativeWork/imf_elibrary> ; # IMF eLibrary.
    schema:about <http://id.worldcat.org/fast/1025234> ; # Monetary policy--Econometric models
    schema:about <http://id.loc.gov/authorities/subjects/sh2008107910> ; # Monetary policy--Econometric models
    schema:about <http://dewey.info/class/332.46/e23/> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/146466162#Topic/money_econometric_models> ; # Money--Econometric models
    schema:about <http://id.worldcat.org/fast/1025273> ; # Money--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/146466162#Topic/inflation_finance_forecasting_econometric_models> ; # Inflation (Finance)--Forecasting--Econometric models
    schema:about <http://id.worldcat.org/fast/972462> ; # Inflation (Finance)--Forecasting--Econometric models
    schema:bookFormat schema:EBook ;
    schema:contributor <http://viaf.org/viaf/147860995> ; # International Monetary Fund.
    schema:contributor <http://viaf.org/viaf/37161626> ; # Helge Berger
    schema:contributor <http://viaf.org/viaf/8290149296214280670001> ; # Emil Stavrev
    schema:creator <http://viaf.org/viaf/8290149296214280670001> ; # Emil Stavrev
    schema:datePublished "2008" ;
    schema:description "This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating money perform better than their cashless counterparts. But there are also indications that the contribution of money has its limits. The marginal contribution of money to forecasting accuracy is often small, money adds little to dynamic factor models, and it worsens forecasting accuracy of partial equilibrium models. Finally, non-monetary models dominate monetary models in an all-out horserace."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/146466162> ;
    schema:genre "Electronic books"@en ;
    schema:genre "Government publication"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://worldcat.org/issn/2227-8885> ; # IMF Working Papers,
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/146466162#Series/imf_working_papers> ; # IMF Working Papers ;
    schema:name "The Information Content of Money in Forecasting Euro Area Inflation"@en ;
    schema:productID "867082364" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/867082364#PublicationEvent/washington_d_c_international_monetary_fund_2008> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/146466162#Agent/international_monetary_fund> ; # International Monetary Fund
    schema:url <http://ebookcentral.proquest.com/lib/ucm/detail.action?docID=1607942> ;
    schema:url <https://ebookcentral.proquest.com/lib/ucm/detail.action?docID=1607942> ;
    schema:url <http://proxy.library.carleton.ca/login?url=http://elibrary.imf.org/view/IMF001/09407-9781451870244/09407-9781451870244/09407-9781451870244.xml> ;
    schema:url <http://ebookcentral.proquest.com/lib/columbia/detail.action?docID=1607942> ;
    schema:url <https://ebookcentral.proquest.com/lib/ben/detail.action?docID=1607942> ;
    schema:url <http://elibrary.imf.org/view/IMF001/09407-9781451870244/09407-9781451870244/09407-9781451870244.xml> ;
    schema:url <http://ebookcentral.proquest.com/lib/warw/detail.action?docID=1607942> ;
    schema:url <http://public.eblib.com/choice/publicfullrecord.aspx?p=1607942> ;
    schema:url <https://ebookcentral.proquest.com/lib/stanford-ebooks/detail.action?docID=1607942> ;
    schema:workExample <http://worldcat.org/isbn/9781451914771> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/867082364> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/146466162#Agent/international_monetary_fund> # International Monetary Fund
    a bgn:Agent ;
    schema:name "International Monetary Fund" ;
    .

<http://experiment.worldcat.org/entity/work/data/146466162#Place/washington_d_c> # Washington, D.C.
    a schema:Place ;
    schema:name "Washington, D.C." ;
    .

<http://experiment.worldcat.org/entity/work/data/146466162#Series/imf_working_papers> # IMF Working Papers ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/867082364> ; # The Information Content of Money in Forecasting Euro Area Inflation
    schema:name "IMF Working Papers ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/146466162#Topic/inflation_finance_forecasting_econometric_models> # Inflation (Finance)--Forecasting--Econometric models
    a schema:Intangible ;
    schema:hasPart <http://id.loc.gov/authorities/subjects/sh85066112> ;
    schema:name "Inflation (Finance)--Forecasting--Econometric models"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2008107910> # Monetary policy--Econometric models
    a schema:Intangible ;
    schema:name "Monetary policy--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1025234> # Monetary policy--Econometric models
    a schema:Intangible ;
    schema:name "Monetary policy--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1025273> # Money--Econometric models
    a schema:Intangible ;
    schema:name "Money--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/972462> # Inflation (Finance)--Forecasting--Econometric models
    a schema:Intangible ;
    schema:name "Inflation (Finance)--Forecasting--Econometric models"@en ;
    .

<http://viaf.org/viaf/147860995> # International Monetary Fund.
    a schema:Organization ;
    schema:name "International Monetary Fund." ;
    .

<http://viaf.org/viaf/37161626> # Helge Berger
    a schema:Person ;
    schema:familyName "Berger" ;
    schema:givenName "Helge" ;
    schema:name "Helge Berger" ;
    .

<http://viaf.org/viaf/8290149296214280670001> # Emil Stavrev
    a schema:Person ;
    schema:familyName "Stavrev" ;
    schema:givenName "Emil" ;
    schema:name "Emil Stavrev" ;
    .

<http://worldcat.org/isbn/9781451914771>
    a schema:ProductModel ;
    schema:isbn "1451914776" ;
    schema:isbn "9781451914771" ;
    .

<http://worldcat.org/issn/2227-8885> # IMF Working Papers,
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/867082364> ; # The Information Content of Money in Forecasting Euro Area Inflation
    schema:issn "2227-8885" ;
    schema:name "IMF Working Papers," ;
    .

<https://ebookcentral.proquest.com/lib/ben/detail.action?docID=1607942>
    rdfs:comment "(access limited to Benedictine University patrons)" ;
    .

<https://ebookcentral.proquest.com/lib/stanford-ebooks/detail.action?docID=1607942>
    rdfs:comment "Available to Stanford-affiliated users." ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.