Monetary policy and data uncertainty

Jääskelä, Jarkko; Yates, Tony
November 2005
Bank of England Quarterly Bulletin;Winter2005, Vol. 45 Issue 4, p477
Academic Journal
The article presents information on monetary policy and data uncertainty. In the article the author present a model that allows one to study variation in measurement error across data vintages. In Great Britain and in many countries, inflation data typically do not get revised and therefore the measurement error in current period inflation data are the same as that in old data. The data policymakers use to assess the state of the economy are often uncertain proxies for the things data policymakers really want to know about.


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