TY  - BOOK
AU  - Hofmann,Boris
TI  - Do monetary indicators (still) predict euro area inflation?
T2  - Discussion paper. Series 1: Economic studies
SN  - 3865581595
U1  - 332.460151 21
PY  - 2006///
CY  - Frankfurt am Main
PB  - Deutsche Bundesbank
KW  - MODELOS ECONOMETRICOS
KW  - INFLACION
KW  - INDICADORES MONETARIOS
KW  - CAMBIO EXTERIOR
N1  - Bibliografía: p. 29-32
N2  - This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over the period since the start of EMU considering a wide range of forecasting models, including standard bivariate forecasting models, factor models, simple combination forecasts as well as trivariate two-pillar Phillips Curve type forecasting models. The results suggest that monetary indicators are still useful indicators for inflation in the euro area, but that a thorough and broad based monetary analysis is needed to extract the information content of monetary developments for future inflation
UR  - http://econstor.eu/bitstream/10419/19646/1/200618dkp.pdf
ER  -