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dc.contributor.authorKichian, Maralen_US
dc.contributor.authorRumler, Fabioen_US
dc.contributor.authorCorrigan, Paulen_US
dc.date.accessioned2010-12-30en_US
dc.date.accessioned2011-12-15T12:58:56Z-
dc.date.available2011-12-15T12:58:56Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/53970-
dc.description.abstractWe propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural New Keynesian models are combined with time-series features in the data. Several marginal cost measures are used, including one that in addition to unit labour cost also integrates relative price shocks known to play an important role in open-economies. Structural estimation and testing is conducted using identification-robust methods that are valid whatever the identification status of the econometric model. We find that our semi-structural models perform better than various strictly structural and conventional time series models. In the latter case, forecasting performance is significantly better, both in the short run and in the medium run.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2010,34en_US
dc.subject.jelC13en_US
dc.subject.jelC53en_US
dc.subject.jelE31en_US
dc.subject.ddc330en_US
dc.subject.keywordInflation and pricesen_US
dc.subject.keywordEconometric and statistical methodsen_US
dc.subject.stwInflationsrateen_US
dc.subject.stwPrognoseen_US
dc.subject.stwPrognoseverfahrenen_US
dc.subject.stwLohnstückkostenen_US
dc.subject.stwAußenwirtschaften_US
dc.subject.stwZeitreihenanalyseen_US
dc.subject.stwKanadaen_US
dc.titleSemi-structural models for inflation forecastingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn64254557Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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