Minding the gap
Subtitle: central bank estimates of the unemployment natural rate
By: Sharon Kozicki and Peter Tinsley.
Contributors: Tinsley, P. A.; Federal Reserve Bank of Kansas City. Research Division.
Series: RWP ;; 05-03; Research working paper (Federal Reserve Bank of Kansas City : Online) ;; 05-03.
Publisher: Research Division, Federal Reserve Bank of Kansas City
Published: 2005
Place of publication: Kansas City [Mo.]
Language: eng
Format: Electronic resource
Description: "A time-varying parameter framework is suggested for use with real-time multiperiod forecast data to estimate implied forecast equations. The framework is applied to historical briefing forecasts prepared for the Federal Open Market Committee to estimate the U.S. central bank's ex ante perceptions of the natural rate of unemployment. Relative to retrospective estimates, empirical results do not indicate severe underestimation of the natural rate of unemployment in the 1970s."
Notes: Includes bibliographical references.
Title from PDF file (viewed on Nov. 2, 2005).
"Version: September 2005."
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.