RDP 2002-06: Output Gaps in Real Time: are they Reliable Enough to use for Monetary Policy? Equation (1)

π t = π t e +γ( y t y t * )+θ Z t + ε t MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeiWdmaaBa aaleaacaWG0baabeaakiabg2da9iaabc8adaqhaaWcbaGaamiDaaqa aiaadwgaaaGccqGHRaWkcaqGZoWaaeWaaeaacaWG5bWaaSbaaSqaai aadshaaeqaaOGaeyOeI0IaamyEamaaDaaaleaacaWG0baabaGaaiOk aaaaaOGaayjkaiaawMcaaiabgUcaRiaakI7acaWGAbWaaSbaaSqaai aadshaaeqaaOGaey4kaSIaaOyTdmaaBaaaleaacaWG0baabeaaaaa@4DED@