TY  - GEN
AU  - Rossi, José Luiz
AU  - Sousa, José Eduardo Gonçalves de
AU  - Gutiérrez Briceño, Jose Alejandro
TI  - Minding the Output Gap: A Hamilton Filter Approach and Updated Estimates for the Brazilian Economy
PY  - 2023
Y1  - 2023/06/28
DO  - 10.18235/0004981
AB  - This paper develops an alternative approach for estimating the potential output and the output gap, intending to serve as a good balance between a simple low data requiring method and a powerful but complex structural approach. We rely on the Hamiltons Regression Filter properties to generate a statistically robust estimator of the potential Gross Domestic Product level which overcomes the problems associated to the Hodrick-Prescott filter and improves the Production Function Approach (PFA). Furthermore, we use this methodology to update the estimates of the potential output and output gap for the Brazilian economy.
UR  - https://doi.org/10.18235/0004981
ER  -