Turner, David; Cavalleri, Maria Chiara; Guillemette, Yvan; … - 2016
Estimates of the output gap ought to be a useful guide for macroeconomic policy, both for assessing inflationary … often subject to, particularly around turning points. Revisions to OECD published estimates of the output gap around the … from the labour-efficiency gap. The current paper investigates a modification to the standard OECD production function …