Estimates of output gaps in four Southeast Asian countries |
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| Authors: | Carlos C. Bautista |
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| Affiliation: | College of Business Administration, University of the Philippines, Diliman, Quezon City, Philippines |
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| Abstract: | The output gaps derived for four countries using a generalized Hamilton model are compared with conventional output gap estimates. Further research is needed to explain why the output gap identifies crisis episodes as slowdowns instead of recessions in some countries. |
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| Keywords: | Asian crisis Generalized Hamilton Markov regime-switching Output gap Stochastic trend |
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