Pitfalls in the Use of Monetary Conditions Indexes

Stevens, G. (1998). Pitfalls in the Use of Monetary Conditions Indexes.

Type

Unclassified

Intellectual base

Unclassified

Year

1998

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1 citation across 1 artifact.

Domain-specific

• Monetary conditions index
  • Weights depend on a model and economy, the index is not a direct measure of the monetary-policy stance under all shocks, levels require a base period, and adding variables creates broader financial-conditions indices rather than the same canonical MCI.

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