Orphanides, Athanasios; Williams, John C. - Federal Reserve Bank of San Francisco - 2007
, innovations are generated from Gaussian distributions with variances re-
ported above. The innovations are assumed to be serially … innovations to the
natural rate equations, introduce the central bank’s real-time updating problem and keep
track of the way in … associated with standard deviation of the natural rate innovations that
are twice as large. The layout of the table is the same …