Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75949
Authors: 
Mayer, Thomas
Year of Publication: 
2002
Series/Report no.: 
CESifo Working Paper 771
Abstract: 
The standard loss function counts both positive and negative deviations from the output and inflation targets as losses. But if the sample period is long enough, then output growth in excess of the target, and often also inflation rates that are below target, should be counted as gains instead of losses.
Subjects: 
loss functions
policy evaluation
JEL: 
E37
E50
E61
Document Type: 
Working Paper

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