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Is the output gap a faulty gauge for monetary policy?

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  • Thomas A. Lubik

Abstract

Policymakers look to the output gap as a measure of how the economy is performing. However, different methods of computing the output gap can lead to vastly different results, rendering it a potentially poor guide.

Suggested Citation

  • Thomas A. Lubik, 2010. "Is the output gap a faulty gauge for monetary policy?," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Jan.
  • Handle: RePEc:fip:fedreb:y:2010:i:jan:n:10-01
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    File URL: http://richmondfed.org/publications/research/economic_brief/2010/pdf/eb_10-01.pdf
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    Cited by:

    1. Rizki E. Wimanda & Paul M. Turner & Maximilian J. B. Hall, 2013. "The shape of the Phillips curve: the case of Indonesia," Applied Economics, Taylor & Francis Journals, vol. 45(29), pages 4114-4121, October.

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    Keywords

    Inflation (Finance) ; Monetary policy;

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