Gökcü, Mert - In: Central Bank review / Central Bank of the Republic of Turkey 24 (2024) 2, pp. 1-12
This paper extends the multivariate filter approach for estimating potential output and NAIRU developed for Türkiye by … integrating the capacity utilization block into the model. The model gives more negative estimates of the output gap and smaller … alternative model including a broader-defined unemployment rate to Turkish data results in significantly less negative output gap …