01765cas a2200265 a 4500 AALejournalIMF003988 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451863413 1018-5941 BD-DhAAL BD-DhAAL Laxton, Douglas. Practical Model-Based Monetary Policy Analysis : A How-To Guide / Douglas Laxton, Andrew Berg, Philippe Karam. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (69 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips) curve, a version of the uncovered interest parity condition, and a monetary policy reaction function. The paper discusses how to parameterize the model and use it for forecasting and policy analysis, illustrating with an application to Canada. It also introduces a set of useful software tools for conducting a model-consistent forecast. Mode of access: Internet Berg, Andrew. Karam, Philippe. IMF Working Papers; Working Paper ; No. 2006/081 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/081/001.2006.issue-081-en.xml IMF e-Library