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1996•RePEc: Research Papers in EconomicsRequires access

Issues in Modelling Monetary Policy

Malcolm Edey, John Romalis

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Abstract

The views expressed are those of the authors and should not be attributed to the This paper reviews issues in the econometric modelling of monetary policy in the light of recent experience and research. Two main sets of issues are covered: first, the operation of policy including the specification of the instrument and objectives; and second, the transmission of monetary policy effects to the wider economy. There is also a discussion of the inherent limitations on the ability to quantify the

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What this paper is about

The views expressed are those of the authors and should not be attributed to the This paper reviews issues in the econometric modelling of monetary policy in the light of recent experience and research. Two main sets of issues are covered: first, the operation of policy including the specification of the instrument and objectives; and second, the transmission of monetary policy effects to the wider economy. There is also a discussion of the inherent limitations on the ability to quantify the

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OpenAlex reports 8 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

The views expressed are those of the authors and should not be attributed to the This paper reviews issues in the econometric modelling of monetary policy in the light of recent experience and research. Two main sets of issues are covered: first, the operation of policy including the specification of the instrument and objectives; and second, the transmission of monetary policy effects to the wider economy. There is also a discussion of the inherent limitations on the ability to quantify the

Key concepts: Monetary policy, Econometric model, Economics, Macroeconomics, Credit channel, Policy analysis, Inflation targeting, Econometrics

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