How Informative Are Real Time Output Gap Estimates in Europe?

Nopic
We study the properties of the IMF-WEO estimates of real-time output gaps for countries in the euro area as well as the determinants of their revisions over 1994-2017. The analysis shows that staff typically saw economies as operating below their potential. In real time, output gaps tend to have large and negative averages that are largely... READ MORE...

Publication date: September 2019
ISBN 9781513512549
$18.00

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Publication date: September 2019

English