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- W3123490501 abstract "Should policymakers and applied macroeconomists worry about the difference between real-time and final data? We tackle this question by using a VAR with time-varying parameters and stochastic volatility to show that the distinction between real-time data and final data matters for the impact of monetary policy shocks: The impact on final data is substantially and systematically different (in particular, larger in magnitude for different measures of real activity) from the impact on real-time data. These differences have persisted over the last 40 years and should be taken into account when conducting or studying monetary policy." @default.
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- W3123490501 date "2015-11-05" @default.
- W3123490501 modified "2023-10-18" @default.
- W3123490501 title "Measurement Errors and Monetary Policy: Then and Now" @default.
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