This paper tests the reliability of the output gap measures using both the statistical and the structural methodologies. We use quarterly GDP data for the case of France over the period of 1960:Q1 – 2010:Q4. A number of statistical methods including Linear Detrending,Moving averages, Hodrick &...

This study deals primarily with the construction of a new measure of estimating the response of different economies towards the current economic crisis that starts in 2007 in the US financial sector and is leaving grave consequences on the European economies, particularly in the euro-zone. We...