Quast, Josefine; Wolters, Maik H. - In: Journal of Applied Econometrics 38 (2023) 7, pp. 1101-1111
Output gap revisions can be large even after many years. Real‐time reliability tests might therefore be sensitive to … the choice of the final output gap vintage that the real‐time estimates are compared to. This is the case for the Federal … Reserve's output gap. When accounting for revisions in response to the global financial crisis in the final output gap, the …