Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries

In recent years, the design of monetary policy has focused on gaps—the output gap, the interest rate gap, and the unemployment rate gap have all played a role in policy discussions. Standard models used for policy analysis are either specified in terms of such gaps or imply important roles for these...

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Autores principales:	Schmidt-Hebbel, Klaus, Walsh, Carl E.
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA INFLACIÓN DESEMPLEO
Acceso en línea:	https://hdl.handle.net/20.500.12580/3753
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spelling	oai-20.500.12580-37532021-04-24T11:03:05Z Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries Schmidt-Hebbel, Klaus Walsh, Carl E. POLÍTICA MONETARIA INFLACIÓN DESEMPLEO In recent years, the design of monetary policy has focused on gaps—the output gap, the interest rate gap, and the unemployment rate gap have all played a role in policy discussions. Standard models used for policy analysis are either specified in terms of such gaps or imply important roles for these gap variables in the implementation of monetary policy. In each case, the gap is defined as the difference (often in percentage terms) between an observable variable, such as output or unemployment, and an unobserved variable, such as potential output or the natural rate of unemployment. 2019-11-01T00:04:29Z 2019-11-01T00:04:29Z 2009 Artículo 978-956-7421-32-9 https://hdl.handle.net/20.500.12580/3753 eng Series on Central Banking, Analysis, and Economic Policies, no. 13 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 285-370 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA MONETARIA INFLACIÓN DESEMPLEO
spellingShingle	POLÍTICA MONETARIA INFLACIÓN DESEMPLEO Schmidt-Hebbel, Klaus Walsh, Carl E. Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
description	In recent years, the design of monetary policy has focused on gaps—the output gap, the interest rate gap, and the unemployment rate gap have all played a role in policy discussions. Standard models used for policy analysis are either specified in terms of such gaps or imply important roles for these gap variables in the implementation of monetary policy. In each case, the gap is defined as the difference (often in percentage terms) between an observable variable, such as output or unemployment, and an unobserved variable, such as potential output or the natural rate of unemployment.
format	Artículo
author	Schmidt-Hebbel, Klaus Walsh, Carl E.
author_facet	Schmidt-Hebbel, Klaus Walsh, Carl E.
author_sort	Schmidt-Hebbel, Klaus
title	Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
title_short	Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
title_full	Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
title_fullStr	Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
title_full_unstemmed	Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
title_sort	monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3753
work_keys_str_mv	AT schmidthebbelklaus monetarypolicyandkeyunobservablesevidencefromlargeindustrialandselectedinflationtargetingcountries AT walshcarle monetarypolicyandkeyunobservablesevidencefromlargeindustrialandselectedinflationtargetingcountries
_version_	1718346421625683968

Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries

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