Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212797 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
BOFIT Discussion Papers No. 11/2014
Verlag: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Zusammenfassung: 
In the spirit of Borio et al. (2014) we present a model that incorporates information contained in diverse variables when estimating sustainable output growth. For this purpose, we specify a state-space model representing a multivariate HP-filter that links cyclical fluctuation of GDP with several indicators of macroeconomic imbalance. We obtain the parameterization of the model by estimating it over a cross-section of emerging market economies. We show that trend output growth rates estimated using this model are more stable than those obtained with a univariate version of the filter and thus are more consistent with the notion of sustainable output.
Schlagwörter: 
output gap
financial cycle
macroeconomic imbalances
emerging markets
JEL: 
E32
E44
C33
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-6699-81-3
Dokumentart: 
Working Paper

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