| 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 |
|