 This correction is quantitatively important. With everything else remaining the same in the model, the natural rate of interest is estimated to be 1.5\% at the end of 2019:Q2; that is, three times the 0.5\% estimate obtained from Holston et al.'s (2017) original Stage 2 MUE implementation .
<meaning-changed>  This correction is quantitatively important. With everything else remaining the same in the model, the natural rate of interest is estimated to be 1.5\% at the end of 2019:Q2; that is, three times the 0.5\% estimate obtained from Holston et al.'s (2017) original Stage 2 MUE implementation .
 Moreover, the \lambda _{z .