Dueker, Michael (contributor); … - 2003 - [Elektronische Ressource], rev
, the HP fllter starts to keep the
running mean output gap within a narrow band near zero, whereas the counterfactual
fllter … large gap between actual and trend output.
Thus, the HP fllter adjusts the timing of trend shifts in order to optimize its … UnReliability of Output
Gap Estimates in Real Time" Review of Economics and Statistics 84, 569-83.
Perron, Pierre and Tatsuma Wada …