Monetary Policy with Unobserved Potential Output

• Autorzy: Francesco Lippi
• Języki publikacji: EN

Abstrakty

EN

This note discusses recent results concerning monetary policy with real time information. The theme of this paper is that the implementation of monetary policy is often faced with the difficult task of taking decisions in the presence of high uncertainty. Policy decisions require knowledge of a structural economic model and of the state of the economy (the realization of the different shocks impinging on it). Such information is rarely available to the policy maker. Taking decisions in real time, when the latest data on some target variables (e.g. inflation, employment and output) may not be available, or be subject to substantial measurement errors, requires an efficient filtering of the available information to ensure the best possible inference on the state of the economy is formed. (fragment of text)

Słowa kluczowe

EN

Monetary policy; Inflation; Information; Production; Conference materials

PL

Polityka pieniężna; Inflacja; Informacja; Produkcja; Materiały konferencyjne

• Czasopismo: Bank i Kredyt
• Rocznik: 2002
• Numer: nr 11-12
• Strony: 19--40

Twórcy

autor

Francesco Lippi