 | Inflation-Forecast Targeting : Applying the Principle of Transparency Author/Editor: Kevin Clinton, Charles Freedman, Michel Juillard, Ondrej Kamenik, Douglas Laxton, Hou Wang. Release Date:June, 2015 Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation more...
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|  | A Model for Full-Fledged Inflation Targeting and Application to Ghana Author/Editor: Kevin Clinton, Jihad Dagher, Ondrej Kamenik, Douglas Laxton, Ali Alichi, Marshall Mills. Release Date:January, 2010 A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a more...
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|  | Constructing Forecast Confidence Bands During the Financial Crisis Author/Editor: Kevin Clinton, Marianne Johnson, Huigang Chen, Ondrej Kamenik, Douglas Laxton. Release Date:September, 2009 We derive forecast confidence bands using a Global Projection Model covering the United States, the euro area, and Japan. In the model, the price of oil is a stochastic process, interest rates have a more...
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|  | A Small Quarterly Projection Model of the US Economy Author/Editor: Igor Ermolaev, Michel Juillard, Ioan Carabenciov, Charles Freedman, Douglas Laxton, Ondrej Kamenik, Dmitry Korshunov. Release Date:December, 2008 This is the first of a series of papers that are being written as part of a project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for more...
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|  | A Small Quarterly Multi-Country Projection Model Author/Editor: Jared Laxton, Igor Ermolaev, Charles Freedman, Ondrej Kamenik, Michel Juillard, Douglas Laxton, Ioan Carabenciov, Dmitry Korshunov. Release Date:December, 2008 This is the second of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the more...
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|  | A Small Quarterly Multi-Country Projection Model with Financial-Real Linkages and Oil Prices Author/Editor: Michel Juillard, Charles Freedman, Dmitry Korshunov, Douglas Laxton, Ondrej Kamenik, Ioan Carabenciov, Igor Ermolaev, Jared Laxton. Release Date:December, 2008 This is the third of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the more...
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|  | Why is Canada's Price Level So Predictable? Author/Editor: Vladimir Klyuev, Heesun Kiem, Ondrej Kamenik, Douglas Laxton. Release Date:January, 2008 One of the pioneers of inflation targeting (IT), the Bank of Canada is now considering a possibility of switching to price-level-path targeting (PLPT), where past deviations of inflation from the more...
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