Adam, Christopher; Cobham, David - Department of Economics, Oxford University - 2004
Real-time, quasi-real, `nearly real` and full sample output gaps for the UK, generated by linear and quadratic, Hodrick … trends of potential output are identified. In that period the rolling-time estimation of the real time and quasi-real gaps … researchers should settle for the nearly real series, while for more stable periods the choice of measure makes little difference. …