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Changes in GDP's measurement error volatility and response of the monetary policy rate : two approaches

dc.creatorParra-Polanía, Julián Andrés
dc.creatorVargas-Riaño, Carmiña Ofelia
dc.date.created2014-03-21
dc.date.issued2014-03-21
dc.identifier.urihttps://repositorio.banrep.gov.co/handle/20.500.12134/6101
dc.description.abstractUsing a stylized model in which output is measured with error, we derive the optimal policy response to the demand shock signal and to changes in the measurement error volatility from two different perspectives: the minimization of the expected loss (from
dc.format.mimetypePDF
dc.language.isospa
dc.publisherBanco de la República
dc.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesBorradores de Economía
dc.relation.isversionofBorradores de Economía; No. 814
dc.rights.accessRightsOpen Access
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.titleChanges in GDP's measurement error volatility and response of the monetary policy rate : two approaches
dc.typeWorking Paper
dc.subject.jelE52 - Monetary Policy
dc.subject.jelE58 - Central Banks and Their Policies
dc.subject.jelD81 - Criteria for Decision-Making under Risk and Uncertainty
dc.subject.keywordPrudence
dc.subject.keywordRobustness
dc.subject.keywordMeasurement error
dc.subject.keywordOptimal monetary policy
dc.subject.lembPolítica monetaria
dc.subject.lembProducto interno bruto -- Mediciones
dc.subject.lembVariables económicas
dc.type.spaDocumentos de trabajo
dc.rights.spaAcceso abierto
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0
dc.subject.jelspaE52 - Política monetaria
dc.subject.jelspaD81 - Criterios para la toma de decisiones con riesgo e incertidumbre
dc.subject.jelspaE58 - Bancos centrales y sus políticas
dc.type.hasversionPublished Version
dc.coverage.sucursalBogotá
dc.relation.doihttps://doi.org/10.32468/be.814
dc.rights.disclaimerLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
dc.relation.repechttps://ideas.repec.org/p/bdr/borrec/814.html
dc.identifier.handlehttps://hdl.handle.net/20.500.12134/6101
dc.creator.firmaJulian A. Parra-Polania
dc.creator.firmaCarmiña O. Vargas
dc.source.handleRepecRePEc:bdr:borrec:814


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