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  • Article title
  • Abstract
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  • 1. Introduction
  • 2. Output gap revisions
    • 2.1. Output gap definition and data
    • 2.2. Initial estimates and revisions
    • 2.3. Robustness checks
  • 3. Determinants of output gap revisions
    • 3.1. Empirical strategy
    • 3.2. Results
  • 4. Policy implications
    • 4.1. To ease, or to tighten
    • 4.2. Setting monetary policy in real time
    • 4.3. Monetary reaction functions
    • 4.4. Output gap revisions and policy revisions
    • 4.5. Output gap revisions and inflation
  • 5. Summary and conclusions
  • Acknowledgements
  • Data
  • References
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