Output Gap Estimation, Estimation Uncertainty and its Effect on Policy Rules

Juan Julio and Javier Gómez P. ()
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Javier Gómez P.: http://www.banrep.gov.co/es/javier-gomez
Authors registered in the RePEc Author Service: Javier G. Gómez-Pineda

Revista ESPE - Ensayos sobre Política Económica, 1998, vol. 17, issue 34, No 34, 89-117

Abstract: The authors propose a short run model for the monetary transmission mechanism in which the output gap is model as an unobserved variable. By estimating this model using maximum likelihood on a Kalman Filter, the authors find an estimate of the unobserved output gap as well as its estimation uncertainty. The performance of monetary rules is studied both with certainty on the output gap values as well as with estimation uncertainty.

Date: 1998
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https://doi.org/10.32468/Espe.3403

Related works:
Working Paper: Output Gap Estimation, Estimation Uncertainty and its Effect on Policy Rules (1999)
Working Paper: OUTPOUT GAP ESTIMATION, ESTIMATION UNCERTAINTY AND ITS EFFECT ON POLICY RULES (1999)
Journal Article: Output Gap Estimation, Estimation Uncertainty and its Effect on Policy Rules (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:bdr:ensayo:v:17:y:1998:i:34:p:89-117

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