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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/19498
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Kugler, Peter | | en_US |
| dc.contributor.author | | Jordan, Thomas J. | | en_US |
| dc.contributor.author | | Lenz, Carlos | | en_US |
| dc.contributor.author | | Savioz, Marcel R. | | en_US |
| dc.date.accessioned | | 2009-01-28T15:58:59Z | | - |
| dc.date.available | | 2009-01-28T15:58:59Z | | - |
| dc.date.issued | | 2004 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/19498 | | - |
| dc.description.abstract | | 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. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.relation.ispartofseries | | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,31 | | en_US |
| dc.subject.jel | | E53 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Structural VAR | | en_US |
| dc.subject.keyword | | forward-looking monetary policy | | en_US |
| dc.subject.keyword | | efficiency frontier | | en_US |
| dc.subject.keyword | | GDP measurement errors | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Sozialprodukt | | en_US |
| dc.subject.stw | | Statistischer Fehler | | en_US |
| dc.subject.stw | | VAR-Modell | | en_US |
| dc.subject.stw | | Schweiz | | en_US |
| dc.title | | Measurement errors in GDP and forward-looking monetary policy: The Swiss case | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 473006936 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:bubdp1:2297 | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
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