Monetary Policy in the OECD INTERLINK Model:
The international financial linkage block of the OECD Secretariat's multi-country model, INTERLINK, is based on a portfolio balance model of exchange rate determination. International consistency is ensured by cross country restrictions on parameters imposed during estimation (1). However, in a...
Gespeichert in:
| 1. Verfasser: | |
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1984
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| Schriftenreihe: | OECD Economics Department Working Papers
no.16 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The international financial linkage block of the OECD Secretariat's multi-country model, INTERLINK, is based on a portfolio balance model of exchange rate determination. International consistency is ensured by cross country restrictions on parameters imposed during estimation (1). However, in an earlier version of the model, the specification of the domestic financial sector for each country was too rudimentary for simulation analysis under alternative monetary policy assumptions. The main element missing from this version of the model was an explicit formulation of the money demand and supply process (2). This gap has been filled in the version of the model reported in this study, which opens the way for a more comprehensive set of alternative policy regimes under which the model can be run, notably: non-accommodating monetary policy; managed floating; fixed exchange rates; and floating with accommodating monetary policy. These will be elaborated upon in more detail below. In a ... |
| Beschreibung: | 1 Online-Ressource (47 p.) 21 x 29.7cm. |
| DOI: | 10.1787/735345408701 |
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| indexdate | 2024-11-26T14:56:04Z |
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| spelling | Blundell-Wignall, Adrian VerfasserIn aut Monetary Policy in the OECD INTERLINK Model Adrian, Blundell-Wignall ... [et al] Paris OECD Publishing 1984 1 Online-Ressource (47 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.16 The international financial linkage block of the OECD Secretariat's multi-country model, INTERLINK, is based on a portfolio balance model of exchange rate determination. International consistency is ensured by cross country restrictions on parameters imposed during estimation (1). However, in an earlier version of the model, the specification of the domestic financial sector for each country was too rudimentary for simulation analysis under alternative monetary policy assumptions. The main element missing from this version of the model was an explicit formulation of the money demand and supply process (2). This gap has been filled in the version of the model reported in this study, which opens the way for a more comprehensive set of alternative policy regimes under which the model can be run, notably: non-accommodating monetary policy; managed floating; fixed exchange rates; and floating with accommodating monetary policy. These will be elaborated upon in more detail below. In a ... Economics Rondoni, M... MitwirkendeR ctb Ziegelschmidt, Helmut MitwirkendeR ctb Morgan, J... MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/735345408701 Volltext |
| spellingShingle | Blundell-Wignall, Adrian Monetary Policy in the OECD INTERLINK Model Economics |
| title | Monetary Policy in the OECD INTERLINK Model |
| title_auth | Monetary Policy in the OECD INTERLINK Model |
| title_exact_search | Monetary Policy in the OECD INTERLINK Model |
| title_full | Monetary Policy in the OECD INTERLINK Model Adrian, Blundell-Wignall ... [et al] |
| title_fullStr | Monetary Policy in the OECD INTERLINK Model Adrian, Blundell-Wignall ... [et al] |
| title_full_unstemmed | Monetary Policy in the OECD INTERLINK Model Adrian, Blundell-Wignall ... [et al] |
| title_short | Monetary Policy in the OECD INTERLINK Model |
| title_sort | monetary policy in the oecd interlink model |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/735345408701 |
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