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Estimating Output Gaps [PDF]

open access: yes, 1998
The output gap, defined as actual less potential output, is an important variable in its own right and as an indicator of incipient changes in inflation. This paper reviews five methods of estimating it for Australian GDP data, including linear time trends, Hodrick-Prescott (HP) filter trends, multivariate HP filter trends, unobservable components ...
Gordon de Brouwer
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Trend Output and the Output Gap in the UK

National Institute Economic Review, 2011
This note looks at estimates of the current scale of the output gap in the UK and at the factors that affect estimates of the trend rate of growth. These issues are central to the debate on macroeconomic policy, both in the short and the long run. The speed at which the economy returns to full capacity, along with the scale of the output gap, will be ...
Ray Barrell, Simon Kirby
openaire   +1 more source

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