semi-structural method to estimate potential output
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semi-structural method to estimate potential output combining economic theory with a time-series filter by Bank of Canada.

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Published by Bank of Canada in Ottawa .
Written in English

Subjects:

  • Economic forecasting -- Canada.,
  • Canada -- Economic conditions -- 1991- -- Mathematical models.

Book details:

Edition Notes

6

Statementby Leo Butler.
SeriesTechnical report (Bank of Canada) ; 77
ContributionsButler, Leo.
The Physical Object
Pagination85 p. ; 28 cm.
Number of Pages85
ID Numbers
Open LibraryOL22133606M

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A Semi-Structural Method to Estimate Potential Output: Combining Economic Theory with a Time-Series Filter (The Bank of Canada’s New Quarterly Projection Model Part 4),” Bank of Canada By Leo Butler, Irene Ip, David Longworth, Tiff Macklem, Steve Poloz, David Rose, Pierre St-amant, Simon Norden and Bob Amano. The Bank of Canada's new quarterly projection model (QPM): part 4, a semi-structural method to estimate potential output, combining economic theory with a time-series filter Author: Leo Butler ; Bank of Canada. A Semi-Structural Method to Estimate Potential Output: Combining Economic Theory with a Time-Series Filter. By Leo Butler. Abstract. The level of potential output plays a central role in the Bank of Canada's new Quarterly Projection Model (QPM). This report, the fourth in a series documenting QPM, describes a general method to measure Author: Leo Butler. Estimating potential output: a semi-structural approach (PDF KB) As part of the new macroeconomic modelling project at the Reserve Bank of New Zealand, considerable effort has been directed towards constructing an historical estimate of the productive capacity of .

Book. Full-text available. A Semi-Structural Method to Estimate Potential Output: Combining Economic Theory with a Time-Series Filter a hybrid method of measuring potential output is. Various methodologies have been proposed to estimate potential output. In the BSP, several approaches in estimating potential output are used, including statistical filters (e.g. HP filter). Leo Butler, "The Bank of Canada's New Quarterly Porjection Model Part 4: A Semi- Structural Method to Estimate Potential Output: Combining Economic Theory with a Time-Series Filter," Technical Repo Bank of Canada. Simon van Norden, "Why Is It So Hard to Measure the Current Output Gap? aspects of economic structure were developed to estimate potential output. This semi-structural approach is followed in the estimation of the output gap in FPS. Conway and Hunt () augment the stochastic-trend estimation of the HP filter with 2 For a discussion of the core model in the Forecasting and Policy System see Black, Cassino, Drew.

This method uses time series data only on output and involves marking of peak levels of output and fitting piece-wise linear function by joining successive peaks with straight line to estimate the trend in potential output. BibTeX @TECHREPORT{Butler96asemi-structural, author = {Leo Butler and Irene Ip and David Longworth and Tiff Macklem and Steve Poloz and David Rose and Pierre St-amant and Simon Norden and Bob Amano}, title = {A Semi-Structural Method to Estimate Potential Output: Combining Economic Theory with a Time-Series Filter (The Bank of Canada’s New Quarterly Projection Model . Butler, L. (). A semi-structural method to estimate potential output: combining economic theory with a time-series filter. Technical Report No Canada: The Bank of Canada. Cayen, J-P. and S. van Norden (). The Reliability of Canadian Output Gap Estimates. Discussion Paper No Deutsche Bundesbank. Cerra, V. and S.C. Saxena (). theory. The semi-structural methods like Kalman filter uses economic relationships along with statistical method to derive the potential output from the observed output. While production function approach is treated to be superior as it provides economic explanation for the movement of potential output and helpful for simulation exercises.