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The Importance of Calculating the Potential Gross Domestic Product in the Context of the Taylor Rule
Dynamic Econometric Models
View Archive Info| Field | Value | |
| Title |
The Importance of Calculating the Potential Gross Domestic Product in the Context of the Taylor Rule
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| Creator |
Michałek, Anna; Nicolaus Copernicus University in Toruń
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| Subject |
Taylor rule, output gap
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| Description |
Taylor stated humorously that his rule was so easy that it could be written down on the back of a business card. The reality shows that the practical use of this type of rule implies accepting many assumptions about its final shape. The article mentions only the matter of influence of calculating the potential GDP and output gap on the empirical relevance of the Taylor rule. Two ways of calculating potential GDP were presented, i.e. the HP filter and linear trend of the current and the real GDP both seasonally adjusted (an additive model with seasonal dummies; TRAMO/SEATS procedure).
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| Publisher |
Nicolaus Copernicus University
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| Contributor |
—
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| Date |
2010-07-17
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://apcz.pl/czasopisma/index.php/DEM/article/view/DEM.2010.011
10.12775/DEM.2010.011 |
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| Source |
Dynamic Econometric Models; Vol 10 (2010); 132-143
Dynamic Econometric Models; Vol 10 (2010); 132-143 2450-7067 1234-3862 |
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| Language |
eng
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| Relation |
http://apcz.pl/czasopisma/index.php/DEM/article/view/DEM.2010.011/4033
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