Planas, Christophe; Rossi, Alessandro - In: Journal of Applied Econometrics 19 (2004) 1, pp. 121-133
Potential output plays a central role in monetary policy and short-term macroeconomic policy making. Yet, characterizing the output gap involves a trend-cycle decomposition, and unobserved component estimates are typically subject to a large uncertainty at the sample end. An important...