Arbeitspapier
The Macroeconomic Loss Function: A Critical Note
The standard loss function counts both positive and negative deviations from the output and inflation targets as losses. But if the sample period is long enough, then output growth in excess of the target, and often also inflation rates that are below target, should be counted as gains instead of losses.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 771
- Klassifikation
-
Wirtschaft
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Policy Objectives; Policy Designs and Consistency; Policy Coordination
- Thema
-
loss functions
policy evaluation
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Mayer, Thomas
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Mayer, Thomas
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2002