There are many definitions in the economics literature, all of which have a long history. I discuss three alternatives: the deviation of output from its long-run stochastic trend (i.e., the "Beveridge-Nelson cycle"); the deviation of output from the level consistent with current technologies ...
The discussion thus far has focused on the definition of output gap as the deviation of output from the natural level of output. While Fernald and Basu do not show their measure ofactualoutput gaps as implied by their model, one can look to another paper (Edge et al. 2007) to see what...
1. We estimate that the UK has a relatively large output gap of around 2%% of potential output. With the legacy of the financial crisis fading, the UK shou... Andrew,Goodwin - 《Economic Outlook》 被引量: 0发表: 2016年 Output gaps, inflation and financial cycles in the United Kingdom...
CD Toit,E Moolman - 《South African Journal of Economics》 被引量: 6发表: 2010年 Monitoring the Economy in Real Time: Trends and Gaps in Real Activity and Prices A mixed-frequency semi-structural model is used for estimating unobservable quantities such as the output gap, the Phillips curve...
Conversely, a negative output gap causes downward pressure on the price level (or on inflation) as intensified competition for buyers and jobs reduces (the increase in) profits and wages. Consequently the observation of and the reaction on significant output gaps of either direction is a key ...
Towards green growth and management: Relative efficiency and gaps of Chinese cities Ting Zhao, Zhenshan Yang, in Renewable and Sustainable Energy Reviews, 2017 3.2.3 Technical efficiency (TE) and Technology gap ratios (TGRs) As noted in Section 3.2.1, D(x,y)=1 denotes that the input-outpu...
Moreover it is easy to show that r2 1 r1 implies S(r1)ZS(r2), therefore the statement (2) is stronger than the conjecture (1) and the result presented in this work can also be seen as a proof of the minimum-output entropy conjecture, without any energy constraint. Thus both gaps ...
‘The Great Recession’ was preceded by a prolonged period of high growth accompanied by low and stable inflation, the so called ‘The Great Moderation’. In Spain, a similar pattern was observed: in fact, potential growth estimates were trending upwards, implying that output gaps remained relati...
Potentialgaps ManyoftheresearchersandscholarsarepaymuchattentiononusinglanguageinputandoutputtheorytosolveoneaspectsofEnglishlearin.Suchas,theinfluenceofOutputtheoryonoralenglishlearing,usingInputtheorytoimproveEnglishreadingablitlityandsoon.Itisusefultoacertaindegree.But,Ithinkitwillbemoreefficientandpracticaltocombine...
One of the main problems with the output gap is that it is hard to measure. The level of actual output is easy to determine because we know what's happening. But potential output isn't that easy to calculate because we can't determine it. The latter is a figure that can only be pre...