01712cas a2200241 a 4500 AALejournalIMF013540 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484399552 1018-5941 BD-DhAAL BD-DhAAL Andrle, Michal. What Is in Your Output Gap? : Unified Framework and Decomposition into Observables / Michal Andrle. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (45 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses several popular methods to estimate the 'output gap'. It provides a unified, natural concept for the analysis, and demonstrates how to decompose the output gap into contributions of observed data on output, inflation, unemployment, and other variables. A simple bar-chart of contributing factors, in the case of multi-variable methods, sharpens the intuition behind the estimates and ultimately shows 'what is in your output gap.' The paper demonstrates how to interpret effects of data revisions and new data releases for output gap estimates (news effects) and how to obtain more insight into real-time properties of estimators. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2013/105 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/105/001.2013.issue-105-en.xml IMF e-Library