haku: @author Wouters, R. / yhteensä: 2
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| Tekijä: | Smets, F. Wouters, R. |
| Otsikko: | Bayesian New Neoclassical Synthesis (NNS) models: modern tools for central banks |
| Lehti: | Journal of the European Economic Association
2005 : APR-MAY, VOL. 3:2-3, p. 422-433 |
| Asiasana: | business cycles central banks forecasting models monetary policy probability |
| Kieli: | eng |
| Tiivistelmä: | This article investigates the advantages of Bayesian New Neoclassical Synthesis models as tools for monetary policy analysis and forecasting. The combination of a sound, micro founded structure with a good probabilistic description of the observed data makes those models suitable for investigating the structural sources of business cycle fluctuations, for analysing optimal monetary policy responses to those developments and for making economic projections conditional on various policy assumptions. |
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