Aleš Bulíř

 

The workshop is designed to test the "monetary overhang" and "P-star" hypotheses. The dataset uses Czech data. Download here.

The workshop estimates potential output in three, progressively more complex, steps. We start with an autoregressive model, extending it for the Phillips curve, and eventually using the full NK model. The EVies codes and series for Bulgaria, the Czech Republic, and Hungary can be downloaded here.

 

The workshop uses the NK model to model monetary policy. The attached codes are used to filter the data, using both the Hodrick-Prescott and Kalman filters; re-calibrate the general model; assess monetary transmission, and prepare inflation forecasts. The Matlab codes for Bulgaria, the Czech Republic, and Hungary can be downloaded here. The MPA handout is available here. Please understand that I can post neither the workshop questions (which are IMF Institute copyrighted material) nor the solutions.