Alternative Methods of Estimating Potential Output and Output Gap: An Application to Sweden
Copyright policy )Alternative Methods of Estimating Potential Output and Output Gap: An Application to Sweden
This paper reviews a number of different methods that can be used to estimate potential output and the output gap. Measures of potential output and the output gap are useful to help identify the scope for sustainable noninflationary growth and to allow an assessment of the stance of macroeconomic policies. The paper then compares results from some of these methods to the case of Sweden, showing the range of estimates.
- International Monetary Fund United States
- Bank for International Settlements Switzerland
Economic models;Inflation;Production;Sweden;Unemployment;Business Cycles, Output Gap, Potential Output, Detrending, Production Function, Vector Autoregression, Unobserved Components Models, nairu, equation, time series, unemployment rate
Economic models;Inflation;Production;Sweden;Unemployment;Business Cycles, Output Gap, Potential Output, Detrending, Production Function, Vector Autoregression, Unobserved Components Models, nairu, equation, time series, unemployment rate
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