Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper extends the multivariate filter approach of estimating potential output developed by Alichi and others (2018) to ...

The output gap measures how far the economy is from its full employment or “potential” level that depends on supply-side factors of the economy: the supply of workers and their productivity. During a ...

This paper develops a simple model for measuring potential output that uses data on inflation, unemployment, and capacity utilization. We apply the model to 10 countries, in addition to the United ...

Total factor productivity—a measure of the efficiency with which labor and capital are used—has fallen during the current recession. But, after adjustment for lower utilization of labor and capital, ...

Discussions about the state of the economy tend to focus much more on the monthly wiggles in the data, the Fed’s latest program to stimulate spending, and the drama on Capitol Hill than on the ...

Brookings Papers on Economic Activity, (FALL 2018), pp. 343-411 (69 pages) The fact that declines in output since the Great Recession have been parlayed into equivalent declines in measures of ...

This paper studies the negative loop caused by the interaction between pessimistic estimates of potential output and the effects of fiscal policy in Europe during 2008–2014. We argue that policymakers ...

I WAS going through some old open tabs in my browser this morning, and I came across this post by Brad DeLong, in which he walks through work on America's labour market that seems to be informing a ...