Scandinavian Working Papers in Economics

Memorandum,
Oslo University, Department of Economics

Hazards in Implementing a Monetary Conditions Index.

K.H. Eika, N.R. Ericsson and R. Nymoen

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.

Keywords: MONETARY POLICY; INFLATION

JEL-codes: E50; E58

31 pages, 1996

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