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| Julia Bersch and Tara M. Sinclair |
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| ''Statistical versus economic output gap measures: evidence from Mongolia'' |
| ( 2014, Vol. 34 No.3 ) |
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| This paper compares the output gap estimates based on a number of different methods. We take advantage of the unique properties of the Mongolian economy in order to evaluate the different approaches. We find that an economic measure derived from a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of the output gap than the traditional statistical decompositions. |
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| Keywords: Blanchard-Quah Decomposition, Nonmineral GDP, Hodrick-Prescott Filter, Christiano-Fitzgerald Filter |
JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
C2 - Single Equation Models; Single Variables: General |
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| Manuscript Received : Jan 12 2014 | | Manuscript Accepted : Aug 20 2014 |
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