ecb speech, 2006-11-09
This conclusion is further supported by the nature and extent of the uncertainty faced by policy-makers:1. uncertainty about the impact of ongoing processes, such as technological advances and financial innovations, on the economic structure;2. the associated uncertainty concerning the estimated values of key economic concepts, such as the economy's potential growth rate, the neutral real rate of interest or the non-inflationary rate of unemployment;3. uncertainty about the way in which economic agents form expectations;4. uncertainty relating to the robustness and completeness of the estimated quantitative approximations of the theoretical paradigms that may be employed in policy analysis; and5. uncertainty about the accuracy of data, especially on a real-time basis.
Sentiment: neutral
Topic: mp_economic_activity