Marcellino, Massimiliano; Musso, Alberto - 2010
This paper provides evidence on the reliability of euro area real-time output gap estimates. A genuine real-time data … set for the euro area is used, including vintages of several sets of euro area output gap estimates available from 1999 to … magnitude and the sign of the real-time estimates of the euro area output gap are very uncertain. The uncertainty is mostly due …
