المستودع الأكاديمي جامعة المدينة

Measurement errors in GDP and forward-looking monetary policy: The Swiss case

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dc.creator Kugler, Peter
dc.creator Jordan, Thomas J.
dc.creator Lenz, Carlos
dc.creator Savioz, Marcel R.
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/10419/19498
dc.identifier ppn:473006936
dc.identifier RePEc:zbw:bubdp1:2297
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19498
dc.description This paper analyzes forward-looking rules for Swiss monetary policy in a small structural VAR consisting of four variables. First, the paper looks at the ex ante inflation-output-growth volatility trade-off for a forward-looking policy aiming at a convex combination of a strict inflation and output growth targeting rule implied by this SVAR model. Thereby the paper introduces a new analytical method. Second, the paper considers the effect of measurement errors in GDP on this inflation-output-growth volatility trade-off. Third, the paper works at the impact of changing beliefs about the potential growth rate on the variability of output growth and inflation. Finally the effects of different targets in a forward-looking monetary policy on ex post or unconditional volatility of inflation and output growth is explored by a simulation exercise.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,31
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E53
dc.subject E52
dc.subject ddc:330
dc.subject Structural VAR
dc.subject forward-looking monetary policy
dc.subject efficiency frontier
dc.subject GDP measurement errors
dc.subject Geldpolitik
dc.subject Sozialprodukt
dc.subject Statistischer Fehler
dc.subject VAR-Modell
dc.subject Schweiz
dc.title Measurement errors in GDP and forward-looking monetary policy: The Swiss case
dc.type doc-type:workingPaper


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