Output gap estimation, estimation uncertainty and its effect on policy rules

The authors propose a short run model for the monetary transmission mechanism in which the output gap is modelled as an unobserved variable. By estimating this model using maximum likelihood on a Kalman Filter, the authors find an estimate of the unobserv

Detalles Bibliográficos
Autores Principales: Julio-Román, Juan Manuel, Gómez-Pineda, Javier G.
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Banco de la República 1999
Materias:
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/5143