К осени 2021 г. российская экономика практически преодолела кризис, вызванный
пандемией коронавируса и падением цен на нефть в первом полугодии 2020 г …

The reliability of output gap estimates is a crucial factor for the successful implementation of
economic policy. We evaluate the robustness and stability of output gap estimates while …

We argue that in an economy with downward nominal wage rigidity, the output gap is
negative on average. Because it is more difficult to cut wages than to increase them, firms …

Estimates of output gaps continue to play a key role in assessments of the stance of
business cycles. This paper uses three approaches to examine the historical record of …

The output gap has a negative mean over time. More precisely, in a New Keynesian model
with labor search frictions, downward nominal wage rigidity amplifies the decline in …

Based on a novel data set for the productive capital stock and labor supply, we present a
quarterly estimation of the Swiss potential output. We apply the production function …

We extend a standard multivariate filter used to estimate the Output Gap (OG) in Chile to
account for large economic shocks, such as those observed during the COVID-19 crisis. We …

Abstract [eng] The difference in the GDP levels is crucial for the macroeconomic forecasting
to develop adequate and supportive fiscal and monetary policies. Most mismeasurements …

Uncertainty around the real-time output gap has important implications for fiscal policy. This
study uses successive vintages of the World Economic Outlook for emerging markets (EMs) …

Output gap revisions can be large even after many years. Real‐time reliability tests might
therefore be sensitive to the choice of the final output gap vintage that the real‐time …