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Economics

Econometric Models of the Euro-area Central Banks

This book presents the main macroeconomic models used in the central banks of the euro area. These include models of individual countries, multi-country models and aggregate euro-area models. In my view the important contribution of this volume is that it is the first attempt to provide a systematic comparison of these models in terms of their structures, main features and properties. In line with the Eurosystem policy of openness and transparency, we have decided to publish, in many cases for the first time, the details of these models. I believe that this information will be of interest to central bankers, academics, ECB watchers and the many others interested in learning more about the functioning of the euro-area economy.
The interest in this volume will stem from the fact that these tools provide an important input into policy formulation within the Eurosystem. Of course, as the overview chapter indicates, these models are not used in a mechanical fashion. The information they provide complements that from other sources, including smaller scale models, monetary and financial indicators, survey evidence and judgmental assessments. Nevertheless the models described in this volume are a crucial element in the preparation of economic projections, helping to ensure consistency within and across countries. They are also extensively used for scenario analysis aimed at assessing the impacts of shocks on the economy and for rapidly updating projections in the light of new infor- mation.

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Detail Information
Series Title
Econometric Models of the Euro-area Central Banks
Call Number
-
Publisher
USA : Putnam Berkley Group Inc.,
Collation
1-336
Language
English
ISBN/ISSN
1 84542 486 7
Classification
NONE
Content Type
-
Media Type
-
Carrier Type
-
Edition
1st Edtion
Subject(s)
Economics
Specific Detail Info
-
Statement of Responsibility
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