dc.contributor.author | Alstadheim, Ragna | |
dc.contributor.author | Bache, Ida Wolden | |
dc.contributor.author | Holmsen, Amund | |
dc.contributor.author | Maih, Junior | |
dc.contributor.author | Røisland, Øistein | |
dc.date.accessioned | 2018-08-07T10:43:44Z | |
dc.date.available | 2018-08-07T10:43:44Z | |
dc.date.issued | 2010 | |
dc.identifier.isbn | 978-82-7553-574-8 | |
dc.identifier.issn | 1504-2596 | |
dc.identifier.uri | http://hdl.handle.net/11250/2507743 | |
dc.description.abstract | Norges Bank is one of few central banks publishing an interest rate fore- cast. This paper discusses how we derive and communicate the interest rate forecast. To produce the forecasts, the Bank uses a medium-sized small open economy DSGE model - NEMO. Judgments and information from other sources are added through conditional forecasting. The interest rate path is derived by minimizing a loss function representing the monetary policy mandate and the Board s policy preferences. Since optimal policy is vulnerable to model uncertainty, some weight is placed on simple interest rate rules. A weight on the deviation of the interest rate from the level implied by a simple rule is included in the loss function. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Norges Bank | nb_NO |
dc.relation.ispartofseries | Staff Memo;11/2010 | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.title | Monetary Policy Analysis in Practice | nb_NO |
dc.type | Working paper | nb_NO |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210 | nb_NO |
dc.source.pagenumber | 32 | nb_NO |