Estimates of potential output are an important ingredient of structured forecasting and policy
analysis. Using information on consensus forecasts, this paper extends the multivariate filter
developed by Benes and others (2010). Although the estimates in real time are more robust
relative to those of na?ve statistical filters, there is still significant uncertainty surrounding the
estimates. The paper presents estimates for 16 countries and provides an example of how the
filtered estimates at the end of the sample period can be improved with additional information.
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|Size: ||3.5 MB|
|Publisher: ||INTERNATIONAL MONETARY FUND|
|Date published: || 2015|
|ISBN: ||9781484322697 (DRM-EPUB)|
|Read Aloud: ||not allowed|