Analyzing time-varying effects of potential output growth shocks

Employing a state space model, we find for the United States economy that potential output growth rate can deviate from its steady state level for substantially long periods.

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Bibliographic Details
Published in:Economics letters 2008-03, Vol.98 (3), p.294-300
Main Authors: Ozlale, Umit, Ozbek, L
Format: Article
Language:English
Subjects:
Deviation
Extended Kalman filter
Growth rates
Measurement
National economy
Output potential
Potential output
U.S.A
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Description
Summary:Employing a state space model, we find for the United States economy that potential output growth rate can deviate from its steady state level for substantially long periods.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2007.05.006