The Resource The role of seasonality and monetary policy in inflation forecasting, prepared by Francis Y. Kumah, (electronic resource)

The role of seasonality and monetary policy in inflation forecasting, prepared by Francis Y. Kumah, (electronic resource)

Label
The role of seasonality and monetary policy in inflation forecasting
Title
The role of seasonality and monetary policy in inflation forecasting
Statement of responsibility
prepared by Francis Y. Kumah
Creator
Contributor
Provider
Subject
Language
eng
Summary
Adequate modeling of the seasonal structure of consumer prices is essential for inflation forecasting. This paper suggests a new econometric approach for jointly determining inflation forecasts and monetary policy stances, particularly where seasonal fluctuations of economic activity and prices are pronounced. In an application of the framework, the paper characterizes and investigates the stability of the seasonal pattern of consumer prices in the Kyrgyz Republic and estimates optimal money growth and implied exchange rate paths along with a jointly determined inflation forecast. The approach uses two broad specifications of an augmented error-correction model-with and without seasonal components. Findings from the paper confirm empirical superiority (in terms of information content and contributions to policymaking) of augmented error-correction models of inflation over single-equation, Box-Jenkins-type general autoregressive seasonal models. Simulations of the estimated errorcorrection models yield optimal monetary policy paths for achieving inflation targets and demonstrate the empirical significance of seasonality and monetary policy in inflation forecasting
Member of
Cataloging source
E7B
http://library.link/vocab/creatorName
Kumah, Francis Y
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
LC call number
HG229
LC item number
.K86 2006eb
Literary form
non fiction
Nature of contents
  • standards specifications
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
ebrary
Series statement
IMF working paper
Series volume
WP/06/175
http://library.link/vocab/subjectName
  • Inflation (Finance)
  • Monetary policy
  • Politique monétaire
  • Inflation
  • Inflation (Finance)
  • Monetary policy
Label
The role of seasonality and monetary policy in inflation forecasting, prepared by Francis Y. Kumah, (electronic resource)
Instantiates
Publication
Note
"July 2006"
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
unknown
Extent
1 online resource (25 pages)
Form of item
electronic
Isbn
9781282558243
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations.
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)698585655
  • (OCoLC)ocn698585655
Label
The role of seasonality and monetary policy in inflation forecasting, prepared by Francis Y. Kumah, (electronic resource)
Publication
Note
"July 2006"
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
unknown
Extent
1 online resource (25 pages)
Form of item
electronic
Isbn
9781282558243
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations.
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)698585655
  • (OCoLC)ocn698585655

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