| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3037 |
| DP3037 Dispersion in the Economic Return to Schooling | |
| Ian Walker; Colm Harmon; Vincent Hogan | |
| 发表日期 | 2001-11-01 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | Understanding the degree of measurement error in the estimates of the output gap available to policymakers in ?real time? is important both for the formulation of monetary policy and for the study of inflation behaviour. For the United Kingdom, no official output gap series was published for most of the period 1965?2000. An approximate series can, however, be deduced from analysis of statistical releases and policymakers? statements. On this basis, we construct a real-time UK output gap series for 1965?2000. We find that monetary policy errors due to output gap mismeasurement contributed approximately 3.0 to 7.1 percentage points to average UK inflation in the 1970s and 0.7?5.5 percentage points to inflation in the 1980s. |
| 主题 | International Macroeconomics |
| 关键词 | Output gap Potential output Great inflation Taylor rule Uk monetary policy Interest rate rules Real-time data Inflation targeting |
| URL | https://cepr.org/publications/dp3037 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532069 |
| 推荐引用方式 GB/T 7714 | Ian Walker,Colm Harmon,Vincent Hogan. DP3037 Dispersion in the Economic Return to Schooling. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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