Estimating potential output for New Zealand

Applied Economics

Volumn 35, Issue 7, 2003, Pages 751-760

  Claus, Iris ^a  

^a VICTORIA UNIVERSITY OF WELLINGTON   (New Zealand)

Author keywords

[No Author keywords available]

Indexed keywords

BANKING; ESTIMATION METHOD; INFLATION; NATIONAL TRADE;

NEW ZEALAND;

EID: 0037647390     PISSN: 00036846     EISSN: None     Source Type: Journal    
DOI: 10.1080/00036840210155168     Document Type: Article

References (28)

1. Baxter, M. and King, R. G. (1995) Measuring business cycles: approximate band-pass filters for economic time series. NBER Working Paper No. 5022.
2. Black, R., Cassino, V., Drew, A., Hansen, E., Hunt, B., Rose, D. and Scott, A. (1997) The forecasting and policy system: the core model. Reserve Bank of New Zealand Research Paper No. 43.
3. Blanchard, O. and Quah, D. (1989) The dynamic effects of aggregate supply and demand disturbances, American Economic Review, 79, 655-73.
4. Butler, L. (1996) A semi-structural method to estimate potential output: combining economic theory with a time-series filter. Bank of Canada Technical Report No. 76.
5. Cogley, T. and Nason, J. (1995) Effects of the Hodrick-Prescott filter on trend and difference stationary time series: implications for business cycle research, Journal of Economic Dynamics and Control, 19, 253-78.
6. Conway, P. and Hunt, B. (1997) Estimating potential output: a semi-structural approach. Reserve Bank of New Zealand Discussion Paper G97/9.
7. DeSerres, A. and Guay, A. (1995) Selection of the truncation lag in structural VARs (or VECMs) with long-run restrictions. Bank of Canada Working Paper No. 95-9.
8. Drew, A. and Hunt, B. (2000) Efficient policy rules and the implications of potential output uncertainty, Journal of Economics and Business, 52, 143-60.
9. Gibbs, D. (1995) Potential output: concepts and measurement, Labour Market Bulletin of the New Zealand Department of Labour, 1, 72-115.
10. Gordon, R. G. (1996) The time-varying NAIRU and its implications for economic policy. NBER Working Paper No. 5735.
11. Granger, C. W. J. (1966) The typical spectral shape of an economic variable, Econometrica, 34, 150-61.
12. Guay, A. and St-Amant, P. (1996) Do mechanical filters provide a good approximation of business cycles? Bank of Canada Technical Report No. 78.
13. Hamilton, J. D. (1994) Time Series Analysis, Princeton University Press, Princeton, NJ.
14. Harvey, A. C. and Jaeger, A. (1993) Detrending, stylized facts and the business cycle, Journal of Applied Econometrics, 8, 231-47.
15. Hodrick, R. J. and Prescott, E. C. (1997) Post-war US business cycles: an empirical investigation, Journal of Money Credit and Banking, 29, 1-16.
16. Isard, P., Laxton, D. and Eliasson, A. (1998) Inflation targeting with NAIRU uncertainty and endogenous policy credibility. Fourth Conference on Computational Economics, Cambridge, United Kingdom.
17. King, R. G., Plosser, C. I., Stock, J. H. and Watson, M. W. (1991) Stochastic trends and economic fluctuations, American Economic Review, 81, 819-40.
18. Lawrence, D. and Diewert, E. (1999) Measuring New Zealand's productivity. Report prepared for the Department of Labour, Reserve Bank of New Zealand and The Treasury.
19. Laxton, D. and Tetlow, R. (1992) A simple multivariate filter for the measurement of potential output. Bank of Canada Technical Report No. 59.
20. Orphanides, A. (1998) Monetary policy evaluation with noisy information. Federal Reserve Board Finance and Economics Discussion Series 1998-50.
21. MacKinnon, J. G. (1990) Critical values for cointegration tests. San Diego University of California Discussion Paper 90-4.
22. Phillips, P. C. B. (1998) Impulse response and forecast error variance asymptotics in nonstationary VARs, Journal of Econometrics, 83, 21-56.
23. Phillips, P. C. B. and Perron, P. (1988) Testing for a unit root in time series regressions, Biometrika, 75, 335-46.
24. Runkle, D. E. (1987) Vector autoregressions and reality, Journal of Business & Economic Statistics, 5, 437-54.
25. Said, S. and Dickey, D. A. (1984) Testing for unit roots in autoregressive-moving average models with unknown order, Biometrika, 71, 599-608.
26. Smets, F. (1999) Output gap uncertainty: does it matter for the Taylor rule? In Monetary Policy Under Uncertainty: Workshop held at the Reserve Bank of New Zealand 29-30 June 1998, pp. 10-29.
27. Staiger, D., Stock, J. and Watson, M. W. (1996) How precise are estimates of the natural rate of unemployment? NBER Working Paper No. 5477.
28. Swanson, E. T. (2000) On signal extraction and non-certainty-equivalence in optimal monetary policy rules. Mimeo. Board of Governors of the Federal Reserve System.