Orphanides, Athanasios (contributor); … - 2003 - [Elektronische Ressource]
, equal to the weighted average of the asymptotic variances of the output gap, y,and
of deviations of inflation, , from the … so as to determine the
intended level of the output gap for period t +1,x
t
, subject to a control error, u
t+1
,
y
t+1 … time t information, y is the
output gap, 2 (0;1), >0, and e is a serially uncorrelated innovation. In this setting,
an …