Makroekonomické modelování
Figure 2. Model-Based Output Gap vs. Detrended GDP
3
		-	i ! \	f\ ■ i i,			1 / 1 *J
		; .■ i ■ i /	■r j ; ' / \ L /	r L 1 V -     '    f * \    *   Í ' i Nř^	i 1 i i \      if Xf\ I \	A t i j        i " j »      \ 1 r w- \       [ f	1 í i f 'V i
	1 1 \ r i f i )	' f \ F 1 ■		if li J * ,i	i .v' :■, 11            i1 , i i 'i            ,r i. i i   r 1,1 1 J li 1 ' ii	L      \      i f \   Jí     ň 1 v' A	
	i i i J k J 1 1 1 j				ll                       ' i 1 1 1 i i i i 1 1 .		
	1    1 1 60	1 1 1 1 64	i               i               i i 6S	1   1   1 1 72	1   1   1   1   1   1   1   1   1   1   1 1 76       80 84	1 1 1 1 1 1 1 1 83 92	1 1 1 1 1 96
output gap ---- detrended gdp
-1 I—I 1—I—I—I—1  I  1   1  I  I  1   I   I  I  1   I  I   I  1 I 1887       1988       1989       1990       1991 1992
Figure 1. Federal funds rate and example policy rule.
204
Efficient frontier based on Model 1 .a
ft<!io os Ij) tl ÍÔ :
Standard devintkmof outrun
LiLťli: iOu<j»jr wiřirjir, LiifLinm weijhr, L;w£ed biKn s[ Rnte wiripJir