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Inflation targeting has moved the quality of econometric methodology and practice into the limelight of economic policy debate. This book describes how the discipline has adapted to changing demands by adopting new insights from economic theory and by taking advantage of the methodological and conceptual advances within time series econometrics. The authors interpret and evaluate the last forty years of international research to explain inflation in a small open economy. A dynamic incomplete competition model is evaluated and built into a small econometric model to analyse the transmission…mehr

Produktbeschreibung
Inflation targeting has moved the quality of econometric methodology and practice into the limelight of economic policy debate. This book describes how the discipline has adapted to changing demands by adopting new insights from economic theory and by taking advantage of the methodological and conceptual advances within time series econometrics. The authors interpret and evaluate the last forty years of international research to explain inflation in a small open economy. A dynamic incomplete competition model is evaluated and built into a small econometric model to analyse the transmission mechanism, to evaluate monetary policy rules, and to explore the main sources of forecast failure.
Autorenporträt
Gunnar Bårdsen is Senior Advisor at Norges Bank (Central Bank of Norway) and Associate Professor at the Norwegian University of Science and Technology in Trondheim. He has published papers in macroeconomics, monetary economics, and theoretical and applied econometrics.; Øyvind Eitrheim, b. 1958, has been Director of Research at Norges Bank since 2001. He has previously been Head of the Model Building Unit (1996-2001) at the central bank. He has been a Visiting Scholar at University of California, San Diego (1990-1991). Eitrheim has been with Norges Bank since January 1984. He has published papers in macroeconomics, monetary economics, and theoretical and applied econometrics. Eilev S. Jansen, b. 1948, is a Director at the Central Bank of Norway and a Professor at Department of Economics, Norwegian University of Science and Technology, Trondheim. He has previously been Head of the Model Building Unit (1983-1988) and Director of Research (1988-2001) at the central bank. He has been a Visiting Scholar at London School of Economics (1975-76), University of California (1993-93,2003-04), and the European Central Bank, Frankfurt (2003). Other affiliations include Department of Economics, University of Oslo (1972-77, 2001-02) and Stastitics Norway (1978-82). He has published papers in international journals and books and he is a co-author of "The econometrics of incomplete time-series/cross-section data" (with Erik Biørn). Ragnar Nymoen, b. 1957, is Professor at the Department of Economics, University of Oslo. He has published papers in macroeconomics and econometrics. In the period 1985-1996, he worked as an economists in the Research Department in Central Bank of Norway.