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A menu on output gap estimation methods

Luis Alvarez and Ana Gómez-Loscos ()

No 1720, Working Papers from Banco de España, Working Papers Homepage

Abstract: This paper presents a survey 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; survey (search for similar items in EconPapers)
JEL-codes: E32 O4 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2017-05
New Economics Papers: this item is included in nep-dcm, nep-ecm and nep-mac
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http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... /17/Fich/dt1720e.pdf First version, May 2017 (application/pdf)

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Journal Article: A menu on output gap estimation methods (2018) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1720

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