Policymakers Priors and lnflation Density Forecasting

This paper models an inflation density forecast framework that closely resembles policymakers' actual behavior regarding the determination of the modal point, the uncertainty and asymmetry in inflation forecasts.The framework combines the prior information about these parameters available to po...

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Detalles Bibliográficos
Autor principal: Vega, Marco; Banco Central de Reserva del Perú
Formato: Artículo publishedVersion
Lenguaje:Inglés
Publicado: Universidad del Pacífico 2014
Materias:
Monetary Policy, inflation, lnflation Targeting, Bayesian Methods
Política monetaria, inflación, Metas de inflación, Métodos bayesianos
Acceso en línea:http://revistas.up.edu.pe/index.php/apuntes/article/view/218
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=article218oai
Aporte de:
Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-article218oai
record_format dspace
institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Inglés
topic Monetary Policy, inflation, lnflation Targeting, Bayesian Methods
Política monetaria, inflación, Metas de inflación, Métodos bayesianos
spellingShingle Monetary Policy, inflation, lnflation Targeting, Bayesian Methods
Política monetaria, inflación, Metas de inflación, Métodos bayesianos
Vega, Marco; Banco Central de Reserva del Perú
Policymakers Priors and lnflation Density Forecasting
topic_facet Monetary Policy, inflation, lnflation Targeting, Bayesian Methods
Política monetaria, inflación, Metas de inflación, Métodos bayesianos
description This paper models an inflation density forecast framework that closely resembles policymakers' actual behavior regarding the determination of the modal point, the uncertainty and asymmetry in inflation forecasts.The framework combines the prior information about these parameters available to policymakers with a standard parametric density estimation technique using Bayesian theory. The combination crucially hinges on an information-theoretic utility function gain for the policymaker from performing the forecast exercise.
format Artículo
publishedVersion
Artículo
publishedVersion
author Vega, Marco; Banco Central de Reserva del Perú
author_facet Vega, Marco; Banco Central de Reserva del Perú
author_sort Vega, Marco; Banco Central de Reserva del Perú
title Policymakers Priors and lnflation Density Forecasting
title_short Policymakers Priors and lnflation Density Forecasting
title_full Policymakers Priors and lnflation Density Forecasting
title_fullStr Policymakers Priors and lnflation Density Forecasting
title_full_unstemmed Policymakers Priors and lnflation Density Forecasting
title_sort policymakers priors and lnflation density forecasting
publisher Universidad del Pacífico
publishDate 2014
url http://revistas.up.edu.pe/index.php/apuntes/article/view/218
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=article218oai
work_keys_str_mv AT vegamarcobancocentraldereservadelperu policymakerspriorsandlnflationdensityforecasting
AT vegamarcobancocentraldereservadelperu legisladoresprioresypredicciondedensidaddeinflacion
bdutipo_str Repositorios
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