Series: IMF Working Papers
Author(s): Francesco Grigoli , Alexander Herman , Andrew Swiston , and Gabriel Di Bella
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 23 January 2015
Keywords: Output gap, policy rule, data revisions, real-time, uncertainty, inflation target, business cycle, output, future, Monetary Policy (Targets
Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetar...