The DOI matches its Crossref record; 119 of the 119 references it cites were found in a registry or an index.
Imperfect Information, Real‐Time Data and Monetary Policy in the Euro Area
Open accessAbstract
An important concern for the European Central Bank (ECB), and all central banks alike, is the necessity of making decisions in real‐time under conditions of great uncertainty about the underlying state of the economy. We address this concern by estimating on real‐time data a New Keynesian model for the euro area under the assumption of imperfect information. In comparison to models that maintain the assumption of perfect information and are estimated on ex‐post revised, we find that: (i) the estimated policy rule becomes more inertial and less aggressive towards inflation; (ii) the ECB faces a more severe trade‐off in the stabilisation of inflation and the output gap.
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Cites
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Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, L. J., Eichenbaum, M., & Evans, C. L. (2005) · Journal of Political Economy · doi:10.1086/426038 · Cited by 6,238
INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY
Woodford, M., & WALSH, C. E. (2005) · Macroeconomic Dynamics · doi:10.1017/s1365100505040253 · Cited by 5,508
An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area
Smets, F. R., & Wouters, R. (2003) · Journal of the European Economic Association · doi:10.1162/154247603770383415 · Cited by 3,450
Inflation dynamics: A structural econometric analysis
Galı́, J., & Gertler, M. (1999) · Journal of Monetary Economics · doi:10.1016/s0304-3932(99)00023-9 · Cited by 3,087
Housing Market Spillovers: Evidence from an Estimated DSGE Model
Iacoviello, M., & Neri, S. (2010) · American Economic Journal: Macroeconomics · doi:10.1257/mac.2.2.125 · Cited by 1,483
Self-citationNominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, L. J., Eichenbaum, M., & Evans, C. L. (2001) · SSRN Electronic Journal · doi:10.2139/ssrn.284956 · Cited by 1,448
Monetary Policy Rules Based on Real-Time Data
Athanasios Orphanides, A. (2001) · American Economic Review · doi:10.1257/aer.91.4.964 · Cited by 1,315
Cited by
Industry Dynamics and Competition from Low‐Wage Countries: Evidence on Italy
Federico, S. (2014) · Oxford Bulletin of Economics and Statistics · doi:10.1111/obes.12023 · Cited by 281
Metadata
- Authors
- Neri, S., & Ropele, T.
- Venue
- The Economic Journal
- Publisher
- Oxford University Press (OUP)
- Published
- 2011-11-28
- Volume
- 122
- Issue
- 561
- Pages
- 651-674
- ISSN
- 0013-0133 (ISSN-L)
- 1468-0297
- OpenAlex
- W1515198480
- Cited by
- 269
- References
- 119
- FWCI
- 158.34
- Type
- journal article
- Language
- en
- Open access
- green
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