Work

Measures of Potential Output from an Estimated DSGE Model of the United States

Year: 2006

Type: preprint

Abstract: This paper develops a DSGE model for the United States that features rational inflation inertia and persistence. The model is estimated with Bayesian-estimation techniques and time-varying inflation objectives to account for movements between regimes. After showing that the model produces forecasts that are quite competitive with other methods we use the forecasts of the model to generate more robust Hodrick-Prescott filter end-of-sample estimates of the output gap.

Source: RePEc: Research Papers in Economics

Authors: Michel Juillard, Ondra Kamenik, Michael Kumhof, Douglas Laxton

Institution: International Monetary Fund

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2127951804

Cites: 48

Cited by: 22

Related to: 10