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GDP data revisions and forward-looking monetary policy in Switzerland
Kugler, Peter; Jordan, Thomas; Savioz, Marcel R.; Lenz, … - Wirtschaftswissenschaftliches Zentrum <Basel>; …
data revision errors in GDP on the ex ante or conditional inflation-output-growth volatility trade-off and applies it to … volatility of inflation and output growth is explored by a simulation exercise. In general, the results obtained suggest that … inflation and GDP growth volatility in the presence of GDP data revisions. …
Persistent link: https://www.econbiz.de/10005867940
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Intelligible Factors for the Yield Curve
Lengwiler, Yvan; Lenz, Carlos - Wirtschaftswissenschaftliches Zentrum <Basel>; … - 2007
We construct a factor model of the yield curve and specify time series processes forthese factors, so that the innovations are mutually orthogonal. At the same time,the factors are constructed in such a way that they assume clear, intuitive interpretations.The resulting “intelligible...
Persistent link: https://www.econbiz.de/10005867867
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The Analysis of Forward-looking Monetary Policy in a SVAR Framework
Kugler, Peter; Jordan, Thomas J.; Savioz, Marcel R.; … - Wirtschaftswissenschaftliches Zentrum <Basel> - 2005
inflation-output-growth volatility trade-off for a forward-looking policy aiming at a convex combination these strategies is … monetary policy which aims at a strict medium term inflation or output growth target is developed. Second, the ex ante …
Persistent link: https://www.econbiz.de/10005867938