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dc.contributor.authorAltavilla, Carloen
dc.contributor.authorCiccarelli, Matteoen
dc.date.accessioned2011-05-24-
dc.date.accessioned2011-06-29T11:14:29Z-
dc.date.available2011-06-29T11:14:29Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3372en
dc.subject.jelE52en
dc.subject.jelE58en
dc.subject.jelC32en
dc.subject.jelC53en
dc.subject.jelC82en
dc.subject.ddc330en
dc.subject.keywordmonetary policyen
dc.subject.keywordTaylor ruleen
dc.subject.keywordreal-time dataen
dc.subject.keywordgreat moderationen
dc.subject.keywordforecastingen
dc.subject.stwGeldpolitiken
dc.subject.stwTaylor-Regelen
dc.subject.stwReaktionsfunktionen
dc.subject.stwKonjunkturprognoseen
dc.subject.stwPrognoseverfahrenen
dc.subject.stwSchätzungen
dc.subject.stwUSAen
dc.titleMonetary policy analysis in real-time: Vintage combination from a real-time dataset-
dc.typeWorking Paperen
dc.identifier.ppn659493071en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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