Policy deviations owing to output gap revisions (actual interest rate minus revised prescription from reaction function, in percentage points). Source: Authors’ calculations.

 
 
  Part of: Grigoli F, Herman A, Swiston A, Di Bella G (2015) Output gap uncertainty and real-time monetary policy. Russian Journal of Economics 1(4): 329-358. https://doi.org/10.1016/j.ruje.2016.02.001