It takes the average reader and 40 minutes to read What Do We Talk About When We Talk About Output Gaps? by Jelle Barkema
Assuming a reading speed of 250 words per minute. Learn more
Estimates of output gaps continue to play a key role in assessments of the stance of business cycles. This paper uses three approaches to examine the historical record of output gap measurements and their use in surveillance within the IMF. Firstly, the historical record of global output gap estimates shows a firm negative skew, in line with previous regional studies, as well as frequent historical revisions to output gap estimates. Secondly, when looking at the co-movement of output gap estimates and realized measures of slack, a positive, but limited, association is found between the two. Thirdly, text analysis techniques are deployed to assess how estimates of output gaps are used in Fund surveillance. The results reveal no strong bearing of output gap estimates on the coverage of the concept or direction of policy advice. The results suggest the need for continued caution in relying on output gaps for real-time policymaking and policy assessment.
What Do We Talk About When We Talk About Output Gaps? by Jelle Barkema is 39 pages long, and a total of 10,101 words.
This makes it 13% the length of the average book. It also has 12% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 55 minutes to read What Do We Talk About When We Talk About Output Gaps? aloud.
What Do We Talk About When We Talk About Output Gaps? is suitable for students ages 8 and up.
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