Statistical versus economic output gap measures: evidence from Mongolia

Julia Bersch () and Tara Sinclair
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Julia Bersch: International Monetary Fund

Economics Bulletin, 2014, vol. 34, issue 3, 1864-1874

Abstract: This paper compares the output gap estimates based on a number of different methods. We take advantage of the unique properties of the Mongolian economy in order to evaluate the different approaches. We find that an economic measure derived from a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of the output gap than the traditional statistical decompositions.

Keywords: Blanchard-Quah Decomposition; Nonmineral GDP; Hodrick-Prescott Filter; Christiano-Fitzgerald Filter (search for similar items in EconPapers)
JEL-codes: C2 E3 (search for similar items in EconPapers)
Date: 2014-08-20
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http://www.accessecon.com/Pubs/EB/2014/Volume34/EB-14-V34-I3-P172.pdf (application/pdf)

Related works:
Working Paper: Statistical Versus Economic Output Gap Measures: Evidence from Mongolia (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-14-00022

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