DUCA, JOHN V.; WU, TAO - In: Journal of Money, Credit and Banking 41 (2009) 4, pp. 799-807
Laubach and Williams (2003) employ a Kalman filter approach to jointly estimate the neutral real federal funds rate and trend output growth using an IS relationship and an output-gap-based inflation equation. They find a positive link between these two variables, but also much error surrounding...