Aggregate demand gap based on a simple structural VAR model

This paper presents aggregate demand gaps for seven OECD countries using structural VAR estimation. These estimates are far more robust than HP-filtered series–typical estimates for GDP-gaps–and demonstrate that both aggregate demand and supply shocks were important in the recent global financial crisis.

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Year of publication:	2012
Authors:	Cho, Dongchul
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 114.2012, 2, p. 228-234
Publisher:	Elsevier
Subject:	Aggregate demand gap \| Structural VAR \| End-point problem

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Type of publication:	Article
Classification:	E32 - Business Fluctuations; Cycles ; E30 - Prices, Business Fluctuations, and Cycles. General ; E10 - General Aggregative Models. General
Source:	RePEc - Research Papers in Economics

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