Artikel
Measures of the Output Gap in the Euro-Zone: An Empirical Assessment of Selected Methods
The paper discusses some widely used methods for estimating output gaps based on aggregated datafor the Euro-zone. Though these methods exhibit some common features, an empirical comparisondemonstrates that the various techniques differ substantially. In particular, the correlation of output gaps calculated with different methods is generally low, the methods imply different turning points, and the estimated level of the output gap differs greatly. Moreover, tests suggest that some of the methods commonly used have only limited information content for inflation forecasting in the Euro-zone. Conclusions for business cycle analysis and economic policy are offered.
- Language
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Englisch
- Bibliographic citation
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Journal: Vierteljahrshefte zur Wirtschaftsforschung ; ISSN: 1861-1559 ; Volume: 70 ; Year: 2001 ; Issue: 3 ; Pages: 310-330 ; Berlin: Duncker & Humblot
- Classification
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Wirtschaft
- Subject
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Produktionspotenzial
Konjunkturforschung
Schätztheorie
Theorie
Ökonometrisches Modell
- Event
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Geistige Schöpfung
- (who)
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Chagny, Odile
Döpke, Jörg
- Event
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Veröffentlichung
- (who)
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Duncker & Humblot
- (where)
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Berlin
- (when)
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2001
- DOI
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doi:10.3790/vjh.70.3.310
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Chagny, Odile
- Döpke, Jörg
- Duncker & Humblot
Time of origin
- 2001
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Measures of the Output Gap in the Euro-Zone: An Empirical Assessment of Selected Methods
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Haben Konjunkturprognosen in Deutschland einen politischen Bias?
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The cross-section of output and inflation in a dynamic stochastic general equilibrium model with sticky prices
Measures of the Output Gap in the Euro-Zone: An Empirical Assessment of Selected Methods
The "Employment Intensity" of Growth in Europe
Macroeconomic Forecasts and the Nature of Economic Shocks in Germany
Inflation and the Skewness of the Distribution of Relative Price Changes: Empirical Evidence for Germany
The within-distribution business cycle dynamics of German firms
Great moderation at the firm level? Unconditional versus conditional output volatility
Great moderation at the firm level?: unconditional vs. conditional Output volatility
Real-time data and business cycle analysis in Germany
Haben Konjunkturprognosen in Deutschland einen politischen Bias?
Real and Financial Integration in Europe - Evidence for the Accession States and for the Pre-Ins
Stylized facts of Euroland's business cycle