Monetary Policy Approaches Taking into Consideration the Current Economic Context

Theoretical and Applied Economics

关键词: monetary policy;    transmission mechanism;    algorithmic elements.;   

DOI  :  

来源: DOAJ

【 摘 要 】

Questions of interest among monetary policy makersinvolves the identification and analysis of various relationships betweenmacroeconomic variables. To analyze these variables and theirinterrelations it is necessary to build a macroeconomic model which isbased on a vector autoregressive, and in which exogenous shocks haveimpact on the study variables. How exogenous variables affect thevariables of interest represent the transmission mechanisms. Estimates ofthe transmission mechanism has been considered traditionally, one of themajor objectives of many macroeconomic studies. Such empiricalresearchers have obtained two major conclusions: first, that thetransmission mechanism varies over time and the second is that theexogenous shocks change over time. Modeling these variables canintercept all these variations? The conclusions of these models aresufficient for monetary policy makers?

【 授权许可】

Unknown