Research Catalog

Title

Estimating Potential Output, Output Gaps and Structural Budget Balances [electronic resource] / Claude Giorno ... [et al]

Publication

Paris : OECD Publishing, 1995.

Details

Additional Authors

• Giorno, Claude.
• Richardson, Pete.
• Roseveare, Deborah.
• van den Noord, Paul.

Description

54 p.; 21 x 29.7cm.

Summary

This paper reviews the methods used for estimating potential output in OECD countries and the use of the resulting output gaps for the calculation of structural budget balances. The "split time trend" method for estimating trend output that was previously used for calculating structural budget balances is compared with two alternative methods, smoothing real GDP using a Hodrick Prescott filter and estimating potential output using a production function approach. It is concluded that the production function approach for estimating potential output provides the best method for estimating output gaps and for calculating structural budget balances, with the results obtained by smoothing GDP providing a cross check. New tax and expenditure elasticities, along with the potential output gaps, are used to derive structural budget balances ...

Series Statement

OECD Economics Department Working Papers, 1815-1973 ; no.152

Uniform Title

OECD Economics Department Working Papers, no.152.

Subject

Economics

LCCN

10.1787/533876774515

OCLC

oecd-lib

Title

Estimating Potential Output, Output Gaps and Structural Budget Balances [electronic resource] / Claude Giorno ... [et al]

Imprint

Paris : OECD Publishing, 1995.

Series

OECD Economics Department Working Papers, 1815-1973 ; no.152

OECD Economics Department Working Papers, 1815-1973 ; no.152.

Connect to:

Full text online available onsite at NYPL

Indexed Term

Economics

Added Author

Giorno, Claude.

Richardson, Pete.

Roseveare, Deborah.

van den Noord, Paul.

Other Standard Identifier

10.1787/533876774515 doi