Mongolia: Measuring the Output Gap
April 1, 2011
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Summary
This paper compares the output gap estimates for Mongolia based on a number of different methods. Special attention is paid to the substantial role of mining in the Mongolian economy. We find that a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of the output gap for Mongolia than the traditional statistical decompositions.
Subject: Business cycles, Inflation, Non-renewable resources, Output gap, Potential output
Keywords: economy, GDP, output gap estimate, output gap measure, WP
Pages:
16
Volume:
2011
DOI:
Issue:
079
Series:
Working Paper No. 2011/079
Stock No:
WPIEA2011079
ISBN:
9781455226092
ISSN:
1018-5941
