Modelos de Estimación de la Brecha de Producto: Aplicación al PIB de la República Dominicana.

This document compares the proprieties of different empirical methodologies to estimate the output gap and the potential output (non-observable variables of interest to the design of monetary policy and macroeconomic analysis) using Dominican Republic as a case of study. The output gap and potential output are estimated with three different methods: univariated filters, non-observable variables methodology; and structural autorregresive vector (SVAR). Also, using all measures of output gap, a Phillip’s curve is estimated with each measure to evaluate the usability of these in macroeconometric models of policy analysis and forecast.