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Monetary Policy and Leading Indicators of Inflation in Sweden
Mr.Ramana RamaswamyJosef BaumgartnerGöran Zettergren
出版International Monetary Fund, 1997-04-01
主題Business & Economics / InflationBusiness & Economics / Foreign ExchangeBusiness & Economics / Money & Monetary Policy
ISBN14519789289781451978926
URLhttp://books.google.com.hk/books?id=hJIYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper derives a set of leading indicators of inflation for Sweden. It also discusses methodological and policy issues pertaining to the estimation of these indicators. The main findings are: (1) narrow money is the most powerful leading inflation indicator; (2) broad money and inflation expectations have significant predictive information on inflation; (3) the output gap, interest rates, and the credit aggregate have some predictive information on inflation, and this information is confined to a shorter time horizon than either the monetary aggregates or inflation expectations; and (4) implied forward rates have only weak predictive information on inflation.