Usted está aquí

Back to top

Output hap estimation, estimation uncertainty and its effect on policy rules

Juan Manuel
Julio-Román
Javier Guillermo
Gómez-Pineda
Domingo, 6 Junio 1999

The authors propose a short run model for the monetary transmission mechanism in which the output gap is modelled as an unobserved variable. By estimating this model using maximum likelihood on a Kalman Filter, the authors find an estimate of the unobserv