Assessment of the Plausibility of the Output Gap Estimates

Atanas Hristov, Rafal Raciborski and Valerie Vandermeulen

No 23, European Economy - Economic Briefs from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: This economic brief provides a self-contained guide on the new Plausibility Tool, being a part of the constrained discretion approach to improving the Production Function methodology for calculating potential output and output gaps. It explains the macroeconomic model and its rationale, reports the results obtained with the tool during the ECFIN 2016 Autumn Forecast and provides their economic interpretation.

Keywords: Potential output; Output gap; Panel estimation; Plausibility tool; Autumn 2016 forecast; Assessment of the Plausibility of the Output Gap Estimates; Hristov; Raciborski; Vandermeulen. (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2017-04
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecobri:023

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