Estimating the natural interest rate for Italy and the Netherlands
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/22239 |
Resumo: | Estimating the natural interest rate is fundamental for the proper definition of the stance of monetary policy. This research applies the Kalman filter to jointly estimate the natural interest rate, potential output and its growth rate for Italy and the Netherlands. The results indicate a decreasing trend in the natural interest rates and point out that a single monetary policy may not optimally suit both countries. There is a link between the real interest rate gap and the output gap, and the estimates of the natural interest rate are subject to a high degree of uncertainty. |
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Estimating the natural interest rate for Italy and the NetherlandsKalman filterNatural interest rateMonetary policyEuro areaDomínio/Área Científica::Ciências Sociais::Economia e GestãoEstimating the natural interest rate is fundamental for the proper definition of the stance of monetary policy. This research applies the Kalman filter to jointly estimate the natural interest rate, potential output and its growth rate for Italy and the Netherlands. The results indicate a decreasing trend in the natural interest rates and point out that a single monetary policy may not optimally suit both countries. There is a link between the real interest rate gap and the output gap, and the estimates of the natural interest rate are subject to a high degree of uncertainty.Franco, FrancescoRUNMendonça, Alexandre Duarte de Sousa Vale2017-07-28T09:49:37Z2017-01-202017-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/22239TID:201713489enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:09:40Zoai:run.unl.pt:10362/22239Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:27:12.275420Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Estimating the natural interest rate for Italy and the Netherlands |
title |
Estimating the natural interest rate for Italy and the Netherlands |
spellingShingle |
Estimating the natural interest rate for Italy and the Netherlands Mendonça, Alexandre Duarte de Sousa Vale Kalman filter Natural interest rate Monetary policy Euro area Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Estimating the natural interest rate for Italy and the Netherlands |
title_full |
Estimating the natural interest rate for Italy and the Netherlands |
title_fullStr |
Estimating the natural interest rate for Italy and the Netherlands |
title_full_unstemmed |
Estimating the natural interest rate for Italy and the Netherlands |
title_sort |
Estimating the natural interest rate for Italy and the Netherlands |
author |
Mendonça, Alexandre Duarte de Sousa Vale |
author_facet |
Mendonça, Alexandre Duarte de Sousa Vale |
author_role |
author |
dc.contributor.none.fl_str_mv |
Franco, Francesco RUN |
dc.contributor.author.fl_str_mv |
Mendonça, Alexandre Duarte de Sousa Vale |
dc.subject.por.fl_str_mv |
Kalman filter Natural interest rate Monetary policy Euro area Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Kalman filter Natural interest rate Monetary policy Euro area Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Estimating the natural interest rate is fundamental for the proper definition of the stance of monetary policy. This research applies the Kalman filter to jointly estimate the natural interest rate, potential output and its growth rate for Italy and the Netherlands. The results indicate a decreasing trend in the natural interest rates and point out that a single monetary policy may not optimally suit both countries. There is a link between the real interest rate gap and the output gap, and the estimates of the natural interest rate are subject to a high degree of uncertainty. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-07-28T09:49:37Z 2017-01-20 2017-01-20T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/22239 TID:201713489 |
url |
http://hdl.handle.net/10362/22239 |
identifier_str_mv |
TID:201713489 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799137901101973504 |