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dc.contributor.authorAltavilla, Carloen_US
dc.contributor.authorCiccarelli, Matteoen_US
dc.date.accessioned2011-05-24en_US
dc.date.accessioned2011-06-29T11:14:29Z-
dc.date.available2011-06-29T11:14:29Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/46270-
dc.description.abstractThis paper provides a general strategy for analyzing monetary policy in real time which accounts for data uncertainty without explicitly modelling the revision process. The strategy makes use of all the data available from a real-time data matrix and averages model estimates across all data releases. Using standard forecasting and policy models to analyze monetary authorities' reaction functions, we show that this simple method can improve forecasting performance and provide reliable estimates of the policy model coefficients associated with small central bank losses, in particular during periods of high macroeconomic uncertainty.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Monetary Policy and International Finance 3372en_US
dc.subject.jelE52en_US
dc.subject.jelE58en_US
dc.subject.jelC32en_US
dc.subject.jelC53en_US
dc.subject.jelC82en_US
dc.subject.ddc330en_US
dc.subject.keywordmonetary policyen_US
dc.subject.keywordTaylor ruleen_US
dc.subject.keywordreal-time dataen_US
dc.subject.keywordgreat moderationen_US
dc.subject.keywordforecastingen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwTaylor-Regelen_US
dc.subject.stwReaktionsfunktionen_US
dc.subject.stwKonjunkturprognoseen_US
dc.subject.stwPrognoseverfahrenen_US
dc.subject.stwSchätzungen_US
dc.subject.stwUSAen_US
dc.titleMonetary policy analysis in real-time: Vintage combination from a real-time dataseten_US
dc.typeWorking Paperen_US
dc.identifier.ppn659493071en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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