Lemoine, Matthieu; Mazzi, Gian Luigi; Monperrus-Veroni, … - In: Journal of Forecasting 29 (2010) 1-2, pp. 29-53
We develop a new version of the production function (PF) approach for estimating the output gap of the euro area. Assuming a CES (constant elasticity of substitution) technology, our model does not call for any (often imprecise) measure of the capital stock and improves the estimation of the...