Quast, Josefine; Wolters, Maik H. - In: Journal of Applied Econometrics 38 (2023) 7, pp. 1101-1111
Output gap revisions can be large even after many years. Real‐time reliability tests might therefore be sensitive to the choice of the final output gap vintage that the real‐time estimates are compared to. This is the case for the Federal Reserve's output gap. When accounting for revisions...