Japan’s output gap estimation and ℓ <Subscript>1</Subscript> trend filtering

This paper estimates Japan’s output gap using the recently developed ℓ <Subscript>1</Subscript> trend filter, which is an alternative to the popular Hodrick–Prescott (HP) filter. This new filter provides a piecewise linear trend line, which means it possibly provides better output gap estimates than the HP filter does for an economy such as Japan that has experienced some structural breaks. Copyright Springer-Verlag 2013

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Year of publication:	2013
Authors:	Yamada, Hiroshi ; Jin, Lan
Published in:	Empirical Economics. - Department of Economics and Finance Research and Teaching. - Vol. 45.2013, 1, p. 81-88
Publisher:	Department of Economics and Finance Research and Teaching

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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