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Hazards in Implementing a Monetary Conditions Index

Author

Listed:
  • Eika, Kari H
  • Ericsson, Neil R
  • Nymoen, Ragnar

Abstract

We show that a monetary conditions index in unlikely to be a useful operational policy tool unless numerous assumptions are satisfied by the empirical model from the MCI is dirived.
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Suggested Citation

  • Eika, Kari H & Ericsson, Neil R & Nymoen, Ragnar, 1996. "Hazards in Implementing a Monetary Conditions Index," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 58(4), pages 765-790, November.
    • Handle: RePEc:bla:obuest:v:58:y:1996:i:4:p:765-90
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    References listed on IDEAS

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    1. David Mayes & Brendon Riches, 1996. "The effectiveness of monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 59, March.
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    More about this item

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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