This paper estimates the potential output (and the output gap) in Chile using several different methodologies. After a structural brake in 1998, the average growth rate of potential output in Chile declined from over 7 percent to 3-4 percent in the aggregate economy, but to less than 2 percent...

This paper estimates the potential output (and the output gap) in Chile using several different methodologies. After a structural brake in 1998, the average growth rate of potential output in Chile declined from over 7 percent to 3-4 percent in the aggregate economy, but to less than 2 percent...

This paper examines the consequences of using "real-time" data for business cycle analysis in Germany based on a novel data set covering quarterly real output data from 1968 to 2001. Real-time output gaps are calculated. They differ considerably from their counterparts based on the most recent...

Das Produktionspotenzial zeigt an, wie schnell eine Volkswirtschaft mittelfristig wachsen kann, ohne dass es zu inflationären Spannungen kommt. Die Produktionslücke - also der Unterschied zwischen dem Produktionspotenzial und der tatsächlichen Produktion - misst den Auslastungsgrad der...