Measuring potential growth with an estimated DSGE model of Japan’s economy

Takuji Fueki, Ichiro Fukunaga, Hibiki Ichiue, Toyoichiro Shirota

研究成果: Article査読

10 被引用数 (Scopus)

抄録

In this paper, we calculate the potential output and the output gap using a Bayesian-estimated DSGE model of Japan’s economy. For bridging the gap with conventional measures, we define our measure of potential output as a component of the efficient output generated only by persistent growth rate shocks. Our potential growth displays a high degree of smoothness and moves closely with conventional measures. Moreover, the output gap from our measure of potential output shows better forecasting performance for inflation—in particular, at short horizons—than other measures of output gap.

本文言語English
ページ(範囲)1-32
ページ数32
ジャーナルInternational Journal of Central Banking
12
1
出版ステータスPublished - 2016 3月
外部発表はい

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学

フィンガープリント

「Measuring potential growth with an estimated DSGE model of Japan’s economy」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

引用スタイル