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Estimating Potential Output and the Output Gap in Slovakia, Tetsuya Konuki

This paper estimates potential output and the output gap for Slovakia which enjoyed rapid growth with few signs of economic overheating in recent years. It applies two broad sets of approaches: conventional methods, represented by a statistical method and a production function approach; and a multivariate (MV) Kalman filter method. The MV Kalman filter method produces estimates of excess demand that portray much more sensibly the situation in recent years in Slovakia than the conventional methods, because it can use more information to condition the paths of potential output
Table Of Contents
Contents; I. Introduction; II. Conventional Methods; A. Statical methods; B. Production function approach; Figures; 1. Output Gap Estimates Based on HP Filter; Tables; 1. Full-Employment Labor Input; 2. Total Factor Productivity (TFP) Growth; 2. Output Gap Estimates by Conventional Methods; 3. Impact of New Factories on Real Output in 2006-08; 3. Output Gap Estimates Based on Production Function; 4. Labor Market Developments; 5. Current Account Balance; 4. Contributions to Growth, 2003-07; III. MV Kalman Filter Approach; 5. Values of Parameters; 6. Output Gap Estimates by MV Kalman Approach
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (24 p.)
Specific Material Designation
Form Of Item

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