About: Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter?

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An Entity of Type : http://linked.opendata.cz/ontology/domain/vavai/Vysledek, within Data Space : linked.opendata.cz associated with source document(s)

Attributes	Values
rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
rdfs:seeAlso	http://journal.fsv.cuni.cz/mag/article/show/id/1311
Description	This paper investigates the differences between parameter estimates of monetary policy reaction functions using real-time data and those using revised data. The model is a New Keynesian DSGE model of the Czech, Hungarian and Polish small open economies in interaction with the euro area. Unlike the related literature, this paper uses separate vintages of real-time data for all successive estimations. The paper reports several statistically significant differences between parameter estimates of monetary policy reaction functions based on real-time data and those based on revised data. The parameter whose estimate is the most affected by the usage of real-time data is preference for output growth. This result is common across the countries in the study. The results suggest that real-time data matter when conducting a historical analysis of monetary policy preferences. This paper investigates the differences between parameter estimates of monetary policy reaction functions using real-time data and those using revised data. The model is a New Keynesian DSGE model of the Czech, Hungarian and Polish small open economies in interaction with the euro area. Unlike the related literature, this paper uses separate vintages of real-time data for all successive estimations. The paper reports several statistically significant differences between parameter estimates of monetary policy reaction functions based on real-time data and those based on revised data. The parameter whose estimate is the most affected by the usage of real-time data is preference for output growth. This result is common across the countries in the study. The results suggest that real-time data matter when conducting a historical analysis of monetary policy preferences. (en)
Title	Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter? Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter? (en)
skos:prefLabel	Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter? Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter? (en)
skos:notation	RIV/00216224:14560/14:00077679!RIV15-MSM-14560___
http://linked.open...avai/riv/aktivita	S
http://linked.open...avai/riv/aktivity	S
http://linked.open...iv/cisloPeriodika	6
http://linked.open...vai/riv/dodaniDat	2015
http://linked.open...aciTvurceVysledku	Čapek, Jan
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Masarykova univerzita / Ekonomicko-správní fakulta
http://linked.open...dnocenehoVysledku	19216
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/14:00077679
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	real-time data; revision; DSGE model; Bayesian estimation; recursive estimation (en)
http://linked.open.../riv/klicoveSlovo	Bayesian estimation revision recursive estimation real-time data DSGE model
http://linked.open...odStatuVydavatele	CZ - Česká republika
http://linked.open...ontrolniKodProRIV	[47C0686250A8]
http://linked.open...i/riv/nazevZdroje	Finance a úvěr
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...UplatneniVysledku	2014
http://linked.open...v/svazekPeriodika	64
http://linked.open...iv/tvurceVysledku	Čapek, Jan
http://linked.open...ain/vavai/riv/wos	000346692600002
issn	0015-1920
number of pages	19 (xsd:int)
http://localhost/t...ganizacniJednotka	14560

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