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| 02331nam 2200361zi 4500 |
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| 001 | 9.942685 |
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| 003 | CaOODSP |
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| 005 | 20240830140158 |
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| 006 | m o d f |
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| 007 | cr mn||||||||| |
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| 008 | 240830t20242024onca ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 041 | 0 |aeng|beng|bfre |
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| 086 | 1 |aFB3-5/2024-30E-PDF |
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| 100 | 1 |aChernis, Tony, |eauthor. |
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| 245 | 10|aDecision synthesis in monetary policy / |cby Tony Chernis, Gary Koop, Emily Tallman and Mike West. |
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| 264 | 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2024. |
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| 264 | 4|c©2024 |
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| 300 | |a1 online resource (ii, 34 pages) : |bcolour illustrations. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2024-30 |
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| 500 | |aISSN assigned to different series. |
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| 500 | |a"Last updated: August 16, 2024." |
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| 504 | |aIncludes bibliographical references (pages 33-34). |
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| 520 | 3 |a"The macroeconomy is a complicated dynamic system with significant uncertainties that make modelling difficult. Consequently, decision-makers consider multiple models that provide different predictions and policy recommendations and then synthesize that information into a policy decision. We use Bayesian predictive decision synthesis (BPDS) as a way formalize this monetary policy decision-making process. BPDS draws on recent developments in model combination and statistical decision theory that make it possible to combine models in a manner that incorporates decision goals, expectations and outcomes. We develop a BPDS procedure for a case study of monetary policy decision-making with an inflation-targeting central bank and compare the results against standard model-combination approaches"--Abstract, page ii. |
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| 546 | |aIncludes abstracts in English and French. |
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| 650 | 0|aMonetary policy|xDecision making|xEconometric models. |
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| 650 | 6|aPolitique monétaire|xPrise de décision|xModèles économétriques. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2024-30.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s1.75 MB|uhttps://publications.gc.ca/collections/collection_2024/banque-bank-canada/FB3-5-2024-30-eng.pdf |
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