Yamada, Hiroshi; Jin, Lan - In: Empirical Economics 45 (2013) 1, pp. 81-88
This paper estimates Japan’s output gap using the recently developed ℓ <Subscript>1</Subscript> trend filter, which is an alternative to the popular Hodrick–Prescott (HP) filter. This new filter provides a piecewise linear trend line, which means it possibly provides better output gap estimates than the HP...</subscript>
