Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5060660 | Economics Letters | 2012 | 7 Pages |
Abstract
This paper presents aggregate demand gaps for seven OECD countries using structural VAR estimation. These estimates are far more robust than HP-filtered series-typical estimates for GDP-gaps-and demonstrate that both aggregate demand and supply shocks were important in the recent global financial crisis.
⺠This paper presents aggregate demand gaps for seven OECD countries using SVAR. ⺠The estimates are far more robust than HP-filtered series for GDP-gaps. ⺠This is particularly so at end-points that policy-makers in real time are concerned about. ⺠Also shown is that both demand and supply shocks were important in the recent crisis.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Dongchul Cho,