Implications of Output Gap Uncertainty in Times of Crisis
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor productivity gaps, except in the United States where it essentially resulted from a large increase in the...
