Did the crisis affect potential output?

被引：3
|
作者：
El-Shagi, Makram [1 ]
机构：
[1] Halle Inst Econ Res, Dept Macroecon, D-06107 Halle, Saale, Germany
来源：
APPLIED ECONOMICS LETTERS | 2011年 / 18卷 / 08期
关键词：
AREA;
D O I：
10.1080/13504851.2010.500270
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Conventional Phillips-curve models that are used to estimate the output gap detect a substantial decline in potential output due to the present crisis. Using a multivariate state space model, we show that this result does not hold if the long-run role of excess liquidity (that we estimate endogenously) for inflation is taken into account.
引用
收藏
页码：735 / 738
页数：4
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