Please use this identifier to cite or link to this item:
http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19499Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Clark, Todd E. | - |
| dc.creator | Kozicki, Sharon | - |
| dc.date | 2004 | - |
| dc.date.accessioned | 2013-10-16T07:05:18Z | - |
| dc.date.available | 2013-10-16T07:05:18Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/19499 | - |
| dc.identifier | ppn:473007037 | - |
| dc.identifier | RePEc:zbw:bubdp1:2298 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19499 | - |
| dc.description | We use a range of simple models and 22 years of real-time data vintages for the U.S. to assess the difficulties of estimating the equilibrium real interest rate in real time. Model specifications differ according to whether the time-varying equilibrium real rate is linked to trend growth, and whether potential output and growth are defined by the CBO?s estimates or treated as unobserved variables. Our results reveal a high degree of specification uncertainty, an important one-sided filtering problem, and considerable imprecision due to data uncertainty. Also, the link between trend growth and the equilibrium real rate is shown to be quite weak. Overall, we conclude that statistical estimates of the equilibrium real rate will be difficult to use reliably in practical policy applications. | - |
| dc.language | eng | - |
| dc.relation | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,32 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | E52 | - |
| dc.subject | C3 | - |
| dc.subject | E4 | - |
| dc.subject | C5 | - |
| dc.subject | ddc:330 | - |
| dc.subject | real-time-data | - |
| dc.subject | time-varying parameter | - |
| dc.subject | Kalman filter | - |
| dc.subject | trend growth | - |
| dc.subject | Realzins | - |
| dc.subject | Gleichgewicht | - |
| dc.subject | Schätzung | - |
| dc.subject | Statistischer Fehler | - |
| dc.subject | Vereinigte Staaten | - |
| dc.subject | real-time-data | - |
| dc.title | Estimating equilibrium real interest rates in real-time | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.