This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Econometric Inflation Targeting Author info | Abstract | Publisher info | Download info | Related research | Statistics Gunnar Bårdsen () (Department of Economics, Norwegian University of Science and Technology)
Eilev S. Jansen () (Norges Bank and Department of Economics, Norwegian University of Science and Technology)
Ragnar Nymoen () (Department of Economics, University of Oslo)
Additional information is available for the following
registered author(s):
Inflation targeting requires inflation forecasts, yet most models in the literature are either theoretical or calibrated. The motivation for this paper is therefore threefold: We seek to test and implement an econometric model forforecasting inflation in Norway–one economy recently opting for formal inflation targeting rather than a managed nominal exchange rate. We also seek to quantify the relative importance of the di?erent transmission mechanisms– with basis in empirical estimates rather than calibrated values. Finally, we want to focus on and exploit econometric issues required in the design and estimation of econometric models used for inflation forecasting and policy analysis.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Department of Economics, Norwegian University of Science and Technology in its series Working Paper Series with number
0502.
Download reference. The following formats are available: HTML ,
plain text ,
BibTeX ,
RIS (EndNote),
ReDIF
Length: 52 pages
Date of creation: 13 Apr 1999Date of revision:
30 Oct 2001Handle: RePEc:nst:samfok:0502Contact details of provider: Postal: 7491 Trondheim Phone: 73 59 19 40 Fax: 73 59 69 54 Email: Web page: http://www.svt.ntnu.no/iso/WP/wp.htm More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Øystein Røkke).
Keywords: inflation targeting monetary policy wages and prices cointegration dynamic modelling Other versions of this item:
Find related papers by JEL classification: C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables C5 - Mathematical and Quantitative Methods - - Econometric Modeling E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
Paul G. Fisher & Gunnar BÅrdsen, 1999.
"Economic theory and econometric dynamics in modelling wages and prices in the United Kingdom ,"
Empirical Economics ,
Springer, vol. 24(3), pages 483-507.
[Downloadable!] (restricted)
Neil R. Ericsson & John S. Irons, 1995.
"The Lucas critique in practice: theory without measurement ,"
International Finance Discussion Papers
506, Board of Governors of the Federal Reserve System (U.S.).
Richard Clarida & Jordi Gali & Mark Gertler, 1999.
"The Science of Monetary Policy: A New Keynesian Perspective ,"
Journal of Economic Literature ,
American Economic Association, vol. 37(4), pages 1661-1707, December.
[Downloadable!] (restricted)
Other versions:
Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999.
"The Science of Monetary Policy: A New Keynesian Perspective ,"
CEPR Discussion Papers
2139, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Clarida, R. & Gali, J. & Gertler, M., 1999.
"The Science of Monetary Policy: A New Keynesian Perspective ,"
Working Papers
99-13, C.V. Starr Center for Applied Economics, New York University.
[Downloadable!] Richard Clarida & Jordi Galí & Mark Gertler, 1997.
"The Science of Monetary Policy: A New Keynesian Perspective ,"
Economics Working Papers
356, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 1999.
[Downloadable!] Richard Clarida & Jordi Gali & Mark Gertler, 1999.
"The Science of Monetary Policy: A New Keynesian Perspective ,"
NBER Working Papers
7147, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Jordi Gali & Mark Gertler, 2000.
"Inflation Dynamics: A Structural Econometric Analysis ,"
NBER Working Papers
7551, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Jordi Galí & Mark Gertler, 1998.
"Inflation Dynamics: A Structural Econometric Analysis ,"
Economics Working Papers
341, Department of Economics and Business, Universitat Pompeu Fabra.
[Downloadable!] Gali, Jordi & Gertler, Mark, 1999.
"Inflation dynamics: A structural econometric analysis ,"
Journal of Monetary Economics ,
Elsevier, vol. 44(2), pages 195-222, October.
[Downloadable!] (restricted) Holden,S., 1999.
"Wage setting under different monetary regimes ,"
Memorandum
12/1999, Oslo University, Department of Economics.
[Downloadable!]
Other versions: Hendry, D.F. & Mizon, G.E., 1990.
"Evaluating Dynamic Econometric Models By Encompassing The Var ,"
Economics Series Working Papers
99102, University of Oxford, Department of Economics.
Glenn D. Rudebusch & Lars E. O. Svensson, 1998.
"Policy rules for inflation targeting ,"
Proceedings ,
Federal Reserve Bank of San Francisco, issue Mar.
Other versions:
Rudebusch, G.D. & Svensson, L.E.O., 1998.
"Policy Rules for Inflation Targeting ,"
Papers
637, Stockholm - International Economic Studies.
Rudebusch, Glenn D & Svensson, Lars E O, 1998.
"Policy Rules for Inflation Targeting ,"
CEPR Discussion Papers
1999, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Glenn D. Rudebusch & Lars E. O. Svensson, 1998.
"Policy Rules for Inflation Targeting ,"
NBER Working Papers
6512, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Svensson, Lars E.O. & Rudebusch , Glenn, 1998.
"Policy Rules for Inflation Targeting ,"
Seminar Papers
637, Stockholm University, Institute for International Economic Studies.
[Downloadable!] Glenn D. Rudebusch & Lars E. O. Svensson, 1998.
"Policy rules for inflation targeting ,"
Working Papers in Applied Economic Theory and Econometrics
98-03, Federal Reserve Bank of San Francisco.
Engle, R. & Hendry, D., 1990.
"Testing Super Exogeneity And Invariance In Regression Models ,"
Economics Series Working Papers
99100, University of Oxford, Department of Economics.
Other versions: Lucas, Robert Jr, 1976.
"Econometric policy evaluation: A critique ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 1(1), pages 19-46, January.
[Downloadable!] (restricted)
Rodseth,A. & Nymoen,R., 1999.
"Nordic wage formation and unemployment seven years later ,"
Memorandum
10/1999, Oslo University, Department of Economics.
[Downloadable!]
Harbo, Ingrid, et al, 1998.
"Asymptotic Inference on Cointegrating Rank in Partial Systems ,"
Journal of Business & Economic Statistics ,
American Statistical Association, vol. 16(4), pages 388-99, October.
Johansen, Soren, 1992.
"Cointegration in partial systems and the efficiency of single-equation analysis ,"
Journal of Econometrics ,
Elsevier, vol. 52(3), pages 389-402, June.
[Downloadable!] (restricted)
Svensson, Lars E O, 1998.
"Open-Economy Inflation Targeting ,"
CEPR Discussion Papers
1989, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions:
Lars E. O. Svensson, 2000.
"Open-Economy Inflation Targeting ,"
NBER Working Papers
6545, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Svensson, L.E.O., 1998.
"Open-Economy Inflation Targeting ,"
Papers
638, Stockholm - International Economic Studies.
Svensson, Lars E.O., 1998.
"Open-Economy Inflation Targeting ,"
Seminar Papers
638, Stockholm University, Institute for International Economic Studies.
[Downloadable!] Svensson, Lars E. O., 2000.
"Open-economy inflation targeting ,"
Journal of International Economics ,
Elsevier, vol. 50(1), pages 155-183, February.
[Downloadable!] (restricted) Akram, Q.F., 2000.
"When does the Oil Price Affect the Norwegian Exchange Rate? ,"
Economics Series Working Papers
9931, University of Oxford, Department of Economics.
Other versions: Tor Jacobson & Per Jansson & Anders Vredin & Anders Warne, 2001.
"Monetary policy analysis and inflation targeting in a small open economy: a VAR approach ,"
Journal of Applied Econometrics ,
John Wiley & Sons, Ltd., vol. 16(4), pages 487-520.
[Downloadable!]
Nicoletta Batini & Andrew G Haldane, .
"Forward-looking rules for monetary policy ,"
Bank of England working papers
91, Bank of England.
[Downloadable!]
Other versions: Øistein Røisland & Ragnar Torvik, 2004.
"Exchange rate versus inflation targeting: a theory of output fluctuations in traded and non-traded sectors ,"
Journal of International Trade & Economic Development ,
Taylor and Francis Journals, vol. 13(3), pages 265-285, September.
[Downloadable!] (restricted)
Johansen, Kare, 1995.
"Norwegian Wage Curves ,"
Oxford Bulletin of Economics and Statistics ,
Department of Economics, University of Oxford, vol. 57(2), pages 229-47, May.
Johansen, Soren, 1988.
"Statistical analysis of cointegration vectors ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 12(2-3), pages 231-254.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Gunnar Bårdsen & Eilev S. Jansen & Ragnar Nymoen, 2000.
"Model Specification and Inflation Forecast Uncertainty ,"
Working Paper Series
1302, Department of Economics, Norwegian University of Science and Technology, revised 29 Jan 2002.
[Downloadable!]
Ragnar Nymoen & Gunnar Bardsen & Eilev S. Jansen, 2004.
"The empirical relevance of the New Keynesian Phillips curve ,"
Econometric Society 2004 North American Winter Meetings
328, Econometric Society.
[Downloadable!]
Gunnar Bårdsen & Eilev S. Jansen & Ragnar Nymoen, 2002.
"The Empirical (ir)Relevance of the New Keynesian Phillips Curve ,"
Working Paper Series
2102, Department of Economics, Norwegian University of Science and Technology.
[Downloadable!]
Bårdsen, Gunnar & Jansen, Eilev S. & Nymoen, Ragnar, 2003.
"Testing the New Keynesian Phillips curve ,"
Memorandum
18/2002, Oslo University, Department of Economics.
[Downloadable!]
Bårdsen, Gunnar & Nymoen, Ragnar, 2006.
"U.S. natural rate dynamics reconsidered ,"
Memorandum
13/2006, Oslo University, Department of Economics.
[Downloadable!]
Tor Jacobson & Per Jansson & Anders Vredin & Anders Warne, 2001.
"Monetary policy analysis and inflation targeting in a small open economy: a VAR approach ,"
Journal of Applied Econometrics ,
John Wiley & Sons, Ltd., vol. 16(4), pages 487-520.
[Downloadable!]
Barkbu,B.B. & Nymoen,R. & Roed,K., 2001.
"Wage coordination and unemployment dynamics in Norway and Sweden ,"
Memorandum
11/2001, Oslo University, Department of Economics.
[Downloadable!]
Other versions: Pål Boug, Ådne Cappelen and Anders Rygh Swensen, 2006.
"The New Keynesian Phillips Curve for a Small Open Economy ,"
Discussion Papers
460, Research Department of Statistics Norway.
[Downloadable!]
Q. Farook Akram & Gunnar Bårdsen & Øyvind Eitrheim, 2005.
"Monetary policy and asset prices: To respond or not? ,"
Working Paper
2005/9, Norges Bank.
[Downloadable!]
Other versions:
Gunnar Bårdsen & Q. Farooq Akram & Øyvind Eitrheim, 2005.
"Monetary policy and asset prices: To respond or not? ,"
Working Paper Series
5405, Department of Economics, Norwegian University of Science and Technology.
[Downloadable!] Q. Farooq Akram & Gunnar Bärdsen & Øyvind Eitrheim, 2006.
"Monetary policy and asset prices: to respond or not? ,"
International Journal of Finance & Economics ,
John Wiley & Sons, Ltd., vol. 11(3), pages 279-292.
[Downloadable!] Nymoen, Ragnar, 2005.
"Evaluating a Central Bank’s Recent Forecast Failure ,"
Memorandum
22/2005, Oslo University, Department of Economics.
[Downloadable!]
Access and
download statistics Did you know? Use the JEL tree to browse through the database by subfields.
This page was last updated on 2008-11-7.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .