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Output Gap Estimation Using the European Union’s Commonly Agreed Methodology Vade Mecum & Manual for the EUCAM Software

François Blondeau, Christophe Planas () and Alessandro Rossi ()

No 148, European Economy - Discussion Papers 2015 - from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: The EUCAM software is the officially validated tool for estimating potential growth and output gaps according to the European Union’s Commonly Agreed Methodology. This EUCAM methodology, which is comprehensively described in Havik et al. (2014), has been agreed between the EU’s Member States during discussions held at regular meetings of the Output Gap Working Group. The EUCAM software integrates all the operations that lead to the output gap and potential growth estimates, including data transformations, filtering, model estimation, and forecasts. Its user-friendly environment facilitates multicountry analyses and comparisons across different data vintages. It is open source and distributed together with the data files for EU countries at the publicly accessible repository circabc.europa.eu/ui/welcome (with users then prompted to follow the path “Browse categories - European Commission - Economic and Financial Affairs - Output Gaps - Library - PF method - EUCAM software”). The EUCAM software enables users to quickly replicate the output gap calculations made by the European Commission.

JEL-codes: C10 C87 E60 (search for similar items in EconPapers)
Pages: 62 pages
Date: 2021-10
New Economics Papers: this item is included in nep-mac and nep-ore
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