Output Gaps In Real Time: How Reliable Are They?
The output gap is of central interest to policymakers. Being unobservable, however, its estimation is prone to error, particularly in real time. Errors result from revisions to the data and unavoidable end-point problems associated with the econometric techniques used to estimate it. Copyright 2005 The Economic Society Of Australia.
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Volume (Year): 81 (2005)
Issue (Month): 252 (03)
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