Taking Stock of IMF Capacity Development on Monetary Policy Forecasting and Policy Analysis Systems

By Nils Øyvind Mæhle, Tibor Hlédik, Mikhail Pranovich, Carina Selander

December 10, 2021

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Format: Chicago

Nils Øyvind Mæhle, Tibor Hlédik, Mikhail Pranovich, and Carina Selander. Taking Stock of IMF Capacity Development on Monetary Policy Forecasting and Policy Analysis Systems, (USA: International Monetary Fund, 2021) accessed December 30, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

This paper takes stock of forecasting and policy analysis system capacity development (FPAS CD), drawing extensively on the experience and lessons learned from developing FPAS capacity in the central banks. By sharing the insights gained during FPAS CD delivery and outlining the typical tools developed in the process, the paper aims to facilitate the understanding of FPAS CD within the IMF and to inform future CD on building macroeconomic frameworks. As such, the paper offers a qualitative assessment of the experience with FPAS CD delivery and the use of FPAS in the decision-making process in central banks.

Subject: Central bank policy rate, Central banks, Economic forecasting, Exchange rates, Financial services, Foreign exchange, Inflation, Market interest rates, Output gap, Prices, Production

Keywords: Africa, Capital markets department, Central bank policy rate, Central Banks, Europe, Exchange rates, Forecasting and Policy Analysis System, FPAS, FPAS capacity, IMF Library, Inflation, Market interest rates, Monetary policy forecasting, Output gap, Policy analysis system, Sub-Saharan Africa

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No 2021/026
Stock No:

TSICDMPFPASEA
ISBN:

9781557753274
ISSN:

2616-5333

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