Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

PL EN


2007 | 17 | 187-202

Article title

On Patterns in Economic Data and Monetary Councils Decisions

Selected contents from this journal

Title variants

Languages of publication

EN

Abstracts

EN
In the paper an attempt to identify decision rules which emulate policy decisions of monetary councils (councils) in Poland, United States and Japan is presented. Policy decisions are defined as decisions concerning target interest rate changes. Generated decision rules emulate therefore monetary authorities' reaction function or policy rules. Accuracy of these rules is measured by the ratio of instances (decisions) correctly classified to the number of all instances under consideration. Generated rules are meaningful. Most of them can be interpreted in terms of stabilizing policy, which stimulates output or decelerates inflation dependent on the evolution of economic situation in the domestic economy. This is consistent with the goal of monetary policy, which is to stabilize prices and (in case of USA) output fluctuations.

Year

Volume

17

Pages

187-202

Physical description

Document type

ARTICLE

Contributors

author
author
author
  • G. Koloch, Szkola Gl√≥wna Handlowa w Warszawie, Studium Doktoranckie, al. Niepodleglosci 162, 02-554 Warszawa, Poland

References

Document Type

Publication order reference

Identifiers

CEJSH db identifier
08PLAAAA04288351

YADDA identifier

bwmeta1.element.fff8d677-45f3-33b2-b178-71e0d9773c93
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.