Financial Cycles: A Monetary Policy Indicator
Izid: 2019 | Izid: 68 | Številka: 11 | Stran(i): 18-26
financial cycle forecasting monetary policy wavelet analysis
Financial cycles have an important impact on the real economy and should be closely observed by the monetary policy makers. This can be done by monitoring individual indicators, using composite indicators, or as we propose in this paper, by developing prediction models for cyclical components of GDP and phase detection. T