Uncertain potential output: Implications for monetary policy

DOI10.1016/S0165-1889(02)00073-8MaRDI QIDQ951377zbMATH OpenOpenAlexFDO

Authors Michael Ehrmann, Frank Smets

Publication date 24 October 2008

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

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

zbMATH Keywords

monetary policy rulespotential outputuncertainty

Mathematics Subject Classification ID

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

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Cites work

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

Cited in

(14)

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

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