Vietnam: Bayesian Estimation of Output Gap

 
Author/Editor: Maliszewski, Wojciech
 
Publication Date: June 01, 2010
 
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Summary: The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model, while treating the output gap as an unobservable series to be estimated together with other parameters. Model coefficients are easily interpretable, and the output gap series is consistent with a broader analysis of economic developments. Output gaps obtained from the HP detrending are subject to larger revisions than series obtained from a suitably adjusted model, and may be misleading compared to the model-based measure.
 
Series: Working Paper No. 10/149
Frequency: Monthly
Subject(s): Economic growth | Vietnam | Production | Transition economies | Economic models

 
English
Publication Date: June 01, 2010
ISBN/ISSN: 9781455201327 Format: Paper
Stock No: WPIEA2010149 Pages: 1407
Price:
US$18.00 (Academic Rate:
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