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The monetary programme (A methodological description)

Author

Listed:
  • Gyula Barabás

    (Magyar Nemzeti Bank)

  • Klára Major

    (Magyar Nemzeti Bank)

Abstract

The monetary programme – constructed on a quarterly basis in the NBH – is a crucial internal product of the decision making process. The programme evaluates the development of net financing capacities of different sectors and the monetary survey and gives a financial side story about the whole economy. This paper describes the method how the program is prepared with a particular focus on the consistency between financial side and income side variables. Besides interrelations between the main items of balance of payments, financial accounts and monetary survey statistics, the paper also presents how a medium term liquidity forecast is prepared based on the projection of the central bank’s balance sheet.

Suggested Citation

  • Gyula Barabás & Klára Major, 2001. "The monetary programme (A methodological description)," MNB Occasional Papers 2001/8, Magyar Nemzeti Bank (Central Bank of Hungary).
    • Handle: RePEc:mnb:opaper:2001/8
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    File URL: http://www.mnb.hu/letoltes/op2001-8.pdf
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    More about this item

    Keywords

    monetary survey; forecast; balance of payments; consumption; savings.;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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