Regional Potential Outputs and Output Gaps in Korea

2011 ◽  
Vol 41 (2) ◽  
pp. 407-418
Author(s):  
Euijune KIM ◽  
Brian H.S.KIM ◽  
Ayoung KIM
Keyword(s):  
Output Gaps

scholarly journals Eurozone Output Gaps and the COVID-19 Shock

2020 ◽  
Vol 55 (5) ◽  
pp. 291-296
Author(s):  
Robin Brooks ◽  
Jonathan Fortun
Keyword(s):  
Output Gaps

scholarly journals SELF-EMPLOYMENT AND BUSINESS CYCLES: SEARCHING FOR ASYMMETRIES IN A PANEL OF 23 OECD COUNTRIES

2016 ◽  
Vol 17 (6) ◽  
pp. 1155-1171 ◽  
Author(s):  
Mónica CARMONA ◽  
Emilio CONGREGADO ◽  
Antonio A. GOLPE ◽  
Jesus IGLESIAS
Keyword(s):  
Output Growth ◽  
Real Economy ◽  
Policy Action ◽  
Policy Makers ◽  
Promotion Policy ◽  
Self Employment ◽  
Asymmetric Impact ◽  
The Business Cycle ◽  
Output Gaps ◽  
Threshold Regression Model

The aim of this work is to identify whether the bidirectional relationship between entrepreneurship cycles and output gaps is asymmetric depending on the phase of the business cycle. To this end, we employ a panel threshold regression model in which different relations can prevail in each regime, defined by the values of the threshold variable. The findings of this article qualify previous empirical results. In particular, our estimates provide support for the existence of different responses – both in terms of sign and magnitude – of cyclical self-employment to output growth and of output growth to cyclical self-employment, depending on the value of the threshold variable. The result is highly important for policy makers and practitioners given that whether they ignore the asymmetric impact that an entrepreneurship promotion policy action might have on the real economy, the action might lead to unexpected effects.

Monetary Policy and Asset Price Gap Signal Technology in a New Keynesian Framework

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Alexander Mislin
Keyword(s):  
Inflation Rate ◽  
Asset Price ◽  
New Keynesian ◽  
Adjustment Process ◽  
Keynesian Model ◽  
Nominal Rate ◽  
Dynamic Stochastic ◽  
The Difference ◽  
Fundamental Value ◽  
Output Gaps

Abstract This article develops a New Keynesian model in which the inflation rate depends on the present value of future output gaps and asset prices gaps. The latter follows a price adjustment process. These asset price gaps are driven by ‛asset price gap signal technology’, a measure of exponentially distributed asset price gaps with a signalling mechanism. Within a dynamic stochastic optimisation approach, I identify a policy rule for the central bank in which the asset price gap the difference between the actual asset price at time t to its fundamental value plays a crucial role in determining the nominal rate of interest.

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