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http://hdl.handle.net/10419/19498
  

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dc.contributor.authorKugler, Peteren_US
dc.contributor.authorJordan, Thomas J.en_US
dc.contributor.authorLenz, Carlosen_US
dc.contributor.authorSavioz, Marcel R.en_US
dc.date.accessioned2009-01-28T15:58:59Z-
dc.date.available2009-01-28T15:58:59Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/19498-
dc.description.abstractThis 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.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,31en_US
dc.subject.jelE53en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordStructural VARen_US
dc.subject.keywordforward-looking monetary policyen_US
dc.subject.keywordefficiency frontieren_US
dc.subject.keywordGDP measurement errorsen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwSozialprodukten_US
dc.subject.stwStatistischer Fehleren_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwSchweizen_US
dc.titleMeasurement errors in GDP and forward-looking monetary policy: The Swiss caseen_US
dc.typeWorking Paperen_US
dc.identifier.ppn473006936en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:2297-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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