Output Gap estimation, estimation uncertainty and its effect on policy rules
Loading...
Revista Ensayos Sobre Política Económica; Vol. 17. No. 34. Diciembre, 1998. Pág.: 89-117.
Date published
1998-12-01
Date
1998-12
Part of book title
ISSN
0120-4483
ISBN
Document language
eng
Metrics

downloads: 0
abstract_views: 0
Las 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.
The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
Abstract
The authors propose a short run model for the monetary transmission mechanism in which the output gap is model as an unobserved variable. By estimating this model using maximum likelihood on a Kalman Filter, the authors find an estimate of the unobserved output gap as well as its estimation uncertainty. The performance of monetary rules is studied both with certainty on the output gap values as well as with estimation uncertainty.
Description
Temática
Keywords
Keywords
Citation
Collections
Seleccionar año de consulta:

Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.
Este documento ha sido depositado por parte de el(los) autor(es) bajo la siguiente constancia de depósito