Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries

dc.contributor.author	Schmidt-Hebbel, Klaus
dc.contributor.author	Walsh, Carl E.
dc.date.accessioned	2019-11-01T00:04:29Z
dc.date.available	2019-11-01T00:04:29Z
dc.date.issued	2009
dc.description	In recent years, the design of monetary policy has focused on gaps—the output gap, the interest rate gap, and the unemployment rate gap have all played a role in policy discussions. Standard models used for policy analysis are either specified in terms of such gaps or imply important roles for these gap variables in the implementation of monetary policy. In each case, the gap is defined as the difference (often in percentage terms) between an observable variable, such as output or unemployment, and an unobserved variable, such as potential output or the natural rate of unemployment.
dc.file.name	BCCh-sbc-v13-p285_370
dc.format	.pdf
dc.format.extent	Sección o Parte de un Documento
dc.format.medium	p. 285-370
dc.identifier.isbn	978-956-7421-32-9
dc.identifier.uri	https://hdl.handle.net/20.500.12580/3753
dc.language.iso	eng
dc.publisher	Banco Central de Chile
dc.relation.ispartof	Series on Central Banking, Analysis, and Economic Policies, no. 13
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Chile	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/cl/	*
dc.subject	POLÍTICA MONETARIA	es_ES
dc.subject	INFLACIÓN	es_ES
dc.subject	DESEMPLEO	es_ES
dc.title	Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries
dc.type.doc	Artículo

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