RDP 2002-06: Output Gaps in Real Time: are they Reliable Enough to use for Monetary Policy?
Equation (A3)
L
=
∑
t
=
1
n
ε
t
2
+
λ
P
C
∑
t
=
−
3
n
−
1
(
(
y
t
+
1
*
−
y
t
*
)
−
(
y
t
*
−
y
t
−
1
*
)
)
2
.
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@6518@