A new production function estimate of the euro area output gap

We develop a new version of the production function (PF) approach for estimating the output gap of the euro area. Assuming a CES (constant elasticity of substitution) technology, our model does not call for any (often imprecise) measure of the capital stock and improves the estimation of the trend t...

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Veröffentlicht in:	Journal of forecasting 2010-01, Vol.29 (1-2), p.29-53
Hauptverfasser:	Lemoine, Matthieu, Mazzi, Gian Luigi, Monperrus-Veroni, Paola, Reynes, Frédéric
Format:	Artikel
Sprache:	eng
Schlagworte:	Business cycles Economic forecasting Economic models Eurozone Output potential output production function Production functions state-space models Studies
Online-Zugang:	Volltext
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