PL EN


Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2012 | nr 8(15) | 97--110
Tytuł artykułu

Selected Measures of the Impact of Monetary Decisions on Inflation

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The principal and fundamental monetary policy target is low and stable inflation, because such inflation impacts on the stability of the financial system and promotes balanced economic growth in the long term. The monetary decisions, having an impact on inflation, may be contemplated as the foundations for stronger and more balanced economic growth. A suitable monetary policy that maintains production near to potential production and that balances demand and supply shock in the economy is the necessary condition for the achievement of low and stable inflation. For analysis of the impact of monetary decisions on inflation we use the traditional vector autoregression model of reduced order of monetary policy. In this paper we present the selected measures of the impact of monetary decisions on inflation using the generalized impulse response. We present the standardized difference between the inflation rate for the scenario with the shock and the inflation rate without the occurrence of shock - the measure taking into account the cumulative impact of monetary policy impulse on inflation and the long-term impact of monetary policy impulse on inflation.(original abstract)
Słowa kluczowe
Rocznik
Numer
Strony
97--110
Opis fizyczny
Twórcy
  • Uniwersytet Ekonomiczny w Katowicach
Bibliografia
  • Ferguson R.W. (2006). Monetary credibility, inflation, and economic growth. Cato Journal. Vol. 26. No. 2.
  • Fujiwara I., Koga M. (2004). A statistical forecasting method for inflation forecasting: hitting every vector autoregression and forecasting under model uncertainty. Monetary and Economic Studies. Pp. 123-142.
  • Horn R.A. Johnson C.R. (1985). Matrix Analysis. Cambridge University Press. Cambridge.
  • Juselius K. (2006). The Cointegrated VAR model. Methodology and Applications. Oxford University Press. New York.
  • Koop G., Pesaran M.H., Potter S.M. (1996). Impulse response analysis in nonlinear multivariate models. Journal of Econometrics. Vol. 74(1). Pp. 119-147.
  • Lutkepohl H. (1991). Introduction to Multiple Time Series Analysis. Springer-Verlag. New York.
  • Morales M. (2003). Dynamic Interaction for Andean Countries: Evidence from VAR Approach. Economic Commission for Latin America and the Caribbean (ECLAC).
  • Postek Ł. (2011). Nieliniowy model mechanizmu transmisji monetarnej w Polsce w latach 1999-2009. Podejście empiryczne. Materiały i Studia. Zeszyt nr 253. Narodowy Bank Polski.
  • Sims C. (1980). Macroeconomics and reality. Econometrica. Vol. 48. Pp. 1-48.
  • Weise C.L. (1999). The asymmetric effects of monetary policy: a nonlinear vector autoregression approach. Journal of Money. Credit and Banking. Vol. 31. No. 1. Pp. 85-108.
  • http://www.eclac.cl/deype/noticias/noticias/6/13446/mmorales.pdf.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171373511

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.