Swiss GDP revisions

摘要: This paper focuses on Swiss GDP revisions and the uncertainty they generate from point of view monetary policy. After a description features, we use vintages to compute real-time output gaps using production function approach. Then, with nominal feedback rule, assess impact – hence gap The main results are threefold. First, similarly those other small economies large, estimates converge slowly their final value. Second, mismeasurements clearly exacerbate difficulty in estimating gaps. Third, policy varies over time. Via its effect gaps, ceteris paribus, inaccuracy risks introducing procyclical bias decisions.