A menu on output gap estimation methods
Luis Alvarez and
Ana Gómez-Loscos ()
Journal of Policy Modeling, 2018, vol. 40, issue 4, 827-850
This paper presents a review of output gap modeling techniques, which are of special interest for policy making institutions. We distinguish between univariate – which estimate trend output on the basis of actual output, without taking into account the information contained in other variables –, and multivariate methods — which incorporate useful information on some other variables, based on economic theory. We present the main advantages and drawbacks of the different methods.
Keywords: Output gap; Potential output; Business cycle; Trend output (search for similar items in EconPapers)
JEL-codes: E32 O4 (search for similar items in EconPapers)
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Working Paper: A menu on output gap estimation methods (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:40:y:2018:i:4:p:827-850
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