Estimating Potential Output with a Multivariate Filter
AbstractThis paper develops a simple model for measuring potential output that uses data on inflation, unemployment, and capacity utilization. We apply the model to 10 countries, in addition to the United States and the euro area. While there is a substantial amount of uncertainty around our estimates, we find that the financial crisis has resulted in a reduction in potential output.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/285.
Date of creation: 01 Dec 2010
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- NEP-ALL-2011-01-03 (All new papers)
- NEP-EEC-2011-01-03 (European Economics)
- NEP-MAC-2011-01-03 (Macroeconomics)
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- Miroslav Plašil, 2011. "Potential Product, Output Gap and Uncertainty Rate Associated with Their Determination while Using the Hodrick-Prescott Filter," Politická ekonomie, University of Economics, Prague, University of Economics, Prague, vol. 2011(4), pages 490-507.
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- Sonali Jain-Chandra & Longmei Zhang, 2014. "How can Korea Boost Potential Output to Ensure Continued Income Convergence?," IMF Working Papers 14/54, International Monetary Fund.
- Michal Andrle, 2013. "What Is in Your Output Gap? Unified Framework & Decomposition into Observables," IMF Working Papers 13/105, International Monetary Fund.
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