Borradores de Economia
Número:
125
Publicado:
Clasificación JEL:
G00, E32, E58
Palabras clave:
Output, gap estimation, estimation uncertainty, policy rules
Lo más reciente
Marlon Salazar, Andrés Salazar-Mejía, Jorge Daniel Guevara-Acevedo, Juan David Duitama-Correa
Aarón Levi Garavito-Acosta, Wilmer Martinez-Rivera, Camilo González-Sabogal, Johanna Barbosa-Buitrago, Nathaly Vergel-Serrano
Nicol Valeria Rodríguez-Rodríguez, Sebastián Quintero-Uribe, Johanna Barbosa-Buitrago
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