Some Further Evidence on Interest-Rate Smoothing: The Role of Measurement Errors in the Output Gap
It has been suggested that interest-rate smoothing may be partly explained by an omitted variable that relates to conditions in financial markets. We propose an alternative interpretation that suggests that it relates to measurement errors in the output gap.
|Date of creation:||01 Mar 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 08 - 787 00 00
Fax: 08-21 05 31
Web page: http://www.riksbank.com/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gerlach-Kristen Petra, 2004. "Interest-Rate Smoothing: Monetary Policy Inertia or Unobserved Variables?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 4(1), pages 1-19, March.
- Glenn D. Rudebusch, 2001.
"Term structure evidence on interest rate smoothing and monetary policy inertia,"
Working Paper Series
2001-02, Federal Reserve Bank of San Francisco.
- Rudebusch, Glenn D., 2002. "Term structure evidence on interest rate smoothing and monetary policy inertia," Journal of Monetary Economics, Elsevier, vol. 49(6), pages 1161-1187, September.
- Castelnuovo, Efrem, 2003.
"Taylor rules, omitted variables, and interest rate smoothing in the US,"
Elsevier, vol. 81(1), pages 55-59, October.
- Efrem Castelnuovo, 2004. "Taylor rules, omitted variables, and interest rate smoothing in the US," Macroeconomics 0403009, EconWPA.
- English William B. & Nelson William R. & Sack Brian P., 2003. "Interpreting the Significance of the Lagged Interest Rate in Estimated Monetary Policy Rules," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-18, April.
When requesting a correction, please mention this item's handle: RePEc:hhs:rbnkwp:0178. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lena Löfgren)
If references are entirely missing, you can add them using this form.