Uncertain potential output: Implications for monetary policy

DOI10.1016/S0165-1889(02)00073-8zbMath1178.91128OpenAlexW2151499120MaRDI QIDQ951377

Michael Ehrmann, Frank Smets

Publication date: 24 October 2008

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0165-1889(02)00073-8

zbMATH Keywords

uncertaintymonetary policy rulespotential output

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82)

Related Items (10)

Uncertain potential output: implications for monetary policy in a small open economy ⋮ Inferring monetary policy objectives with a partially observed state ⋮ Optimal price setting and inflation inertia in a rational expectations model ⋮ Generalized method of moments and inverse control ⋮ Investment and the Taylor rule in a dynamic Keynesian model ⋮ Conventional and unconventional monetary policy reaction to uncertainty in advanced economies: evidence from quantile regressions ⋮ Robust monetary policy, optimal delegation and misspecified potential output ⋮ Endogenous monetary policy with unobserved potential output ⋮ Robustifying learnability ⋮ Imperfect transparency and shifts in the central bank's output gap target

Cites Work

• Indicator variables for optimal policy under asymmetric information
• The design of feedback rules in linear stochastic rational expectations models
• Inflation targeting with NAIRU uncertainty and endogenous policy credibility
• The Taylor rule and interest rates in the EMU area

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