Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19498 
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dc.contributor.authorKugler, Peteren
dc.contributor.authorJordan, Thomas J.en
dc.contributor.authorLenz, Carlosen
dc.contributor.authorSavioz, Marcel R.en
dc.date.accessioned2009-01-28T15:58:59Z-
dc.date.available2009-01-28T15:58:59Z-
dc.date.issued2004-
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
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2004,31en
dc.subject.jelE53en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordStructural VARen
dc.subject.keywordforward-looking monetary policyen
dc.subject.keywordefficiency frontieren
dc.subject.keywordGDP measurement errorsen
dc.subject.stwGeldpolitiken
dc.subject.stwSozialprodukten
dc.subject.stwStatistischer Fehleren
dc.subject.stwVAR-Modellen
dc.subject.stwSchweizen
dc.titleMeasurement errors in GDP and forward-looking monetary policy: The Swiss case-
dc.typeWorking Paperen
dc.identifier.ppn473006936en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:2297en

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