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This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty … the policymaker faces when setting the monetary policy and evaluating its effect on real economy. We find evidence of a …
Persistent link: https://www.econbiz.de/10003813633
Persistent link: https://www.econbiz.de/10003887112
This paper provides a general strategy for analyzing monetary policy in real time which accounts for data uncertainty without explicitly modelling the revision process. The strategy makes use of all the data available from a real-time data matrix and averages model estimates across all data...
Persistent link: https://www.econbiz.de/10009011352