Bjørnland, Hilde C.; Brubakk, Leif; Jore, Anne Sofie - 2006
The output gap is a crucial concept in the monetary policy framework, indicating demand pressure that generates … series of univariate and multivariate methods for extracting the output gap in Norway, and compares their value added in … predicting inflation. We find that models including the output gap have better predictive power than models based on alternative …