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Is monetary policy important for forecasting real growth and inflation?

✍ Scribed by Edward N. Gamber; David R. Hakes


Book ID
113748044
Publisher
Elsevier Science
Year
2005
Tongue
English
Weight
161 KB
Volume
27
Category
Article
ISSN
0161-8938

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## Abstract Using quarterly data for the Federal Republic of Germany, we generate four-quarter-ahead forecasts for real GDP growth. Throughout the 1970s and 1980s, other monetary indicators like real M1 or short-run interest rates clearly outperform forecasts which are based on interest rate sprea