Gonzalez, Andres; Ocampo, Sergio; Rodriguez, Diego Arturo; … - In: Monetaria I (2013) 2, pp. 231-286
Three new measures of the Colombian output gap and the real neutral interest rate are proposed. Instead of relying only on statistical filters, the proposed measures use semi-structural New Keynesian models, adapted for a small open economy. The output gap measures presented are in line with...