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Hazards in Implementing a Monetary Conditions Index

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  • Eika, Kari H
  • Ericsson, Neil R
  • Nymoen, Ragnar

Abstract

We show that a monetary conditions index in unlikely to be a useful operational policy tool unless numerous assumptions are satisfied by the empirical model from the MCI is dirived.

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Bibliographic Info

Article provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.

Volume (Year): 58 (1996)
Issue (Month): 4 (November)
Pages: 765-90

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Handle: RePEc:bla:obuest:v:58:y:1996:i:4:p:765-90

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  1. David Mayes & Brendon Riches, 1996. "The effectiveness of monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, Reserve Bank of New Zealand, vol. 59, March.
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  1. Canadian Macro Study Group

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