3 edition of Estimating output gap for the Indian economy found in the catalog.
Estimating output gap for the Indian economy
|Series||Working paper ;, W.P. no. 2004-04-02, Working paper (Indian Institute of Management, Ahmedabad) ;, W.P. no. 2004-04-02.|
|Contributions||Indian Institute of Management, Ahmedabad.|
|LC Classifications||Microfiche 2004/60574 (H)|
|The Physical Object|
|Number of Pages||10|
|LC Control Number||2004312365|
Employing the extended Kalman filter in measuring the output gap. (). Estimating potential output as a latent variable. (). Estimating the output gap forthe Indian economy: Comparing results from unobserved components models and the Hodrick-Prescott filter. IIM-A Working Paper No Ahmedabad: Indian Institute of Management. In the latest edition, the authors have introduced a new analysis of the evolving problems and opportunities for the Indian Economy by way of adding new sections and revising existing chapters. Click to buy Datt and Sundaram’s Indian Economy; 5. Indian Economy by Uma Kapila. Content wise the book on Indian Economy by Uma Kapila is good.
Based on recent economic projections from CBO, we estimate the output gap will total $ billion over the six-month period between August 1, – when expanded unemployment insurance (UI) benefits end under current law – and February 1, , shortly after Inauguration Day. Looking further, we project the output gap will total $ Economic Outlook are extended forward to produce long-term economic scenarios, which serve, among other uses, to illustrate the potential medium and long-run effects of supply-side reforms. 2. The OECD’s approach to estimating potential output has evolved over the years, as.
Furthermore, it turns out that the inflation-prediction power of the revised output gap is almost unchanged from the previous version. Meanwhile, the resulting potential growth rate shows a significant upward revision for the last few years, mainly reflecting a rise in the TFP growth rate associated with the revision of the GDP statistics. Definition of the output gap The output gap is defined as the difference between actual and potential GDP as a per cent of potential GDP, i.e.: (1) where GAP tis the output gap, Y tis GDP in real terms and YP t is the potential output of the economy, all during the year t. Potential output.
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The objective of this study is to estimate potential output vis-à-vis output gap for Pakistan’s economy. This paper reviews six commonly used techniques to estimate potential output and from that the output gap.
The results suggest that while measures of output gap are not identical they nonetheless do show some degree of association among each other. Estimating Output Gap for the Indian Economy Comparing Results from Unobserved-Components Models and the Hodrick-Prescott Filter Output gap estimates are constructed for India using unobserved components model (UCM) approach on the lines of Watson () and Kuttner ().
Results from UCMs are not found to be any less. Download Citation | Estimating Output Gap for the Indian Economy: Comparing Results from Unobserved-Components Models and the Hodrick-Prescott Filter | Output gap.
CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): Output gap estimates are constructed for India using unobserved components model (UCM) approach on the lines of Watson () and Kuttner (). Results from UCMs are not found to be any less sensitive to data revisions when compared to those from the Hodrick-Prescott filter.
Downloadable. Output gap estimates are constructed for India using unobserved components model (UCM) approach on the lines of Watson () and Kuttner (). Results from UCMs are not found to be any less sensitive to data revisions when compared to those from the Hodrick-Prescott filter.
This, however, could be because of lack of sufficient ‘revised-data’ on which the sensitivity of the Cited by: The output gap is the economic measure of the difference between total demand as an actual output of an economy and average supply capacity, smoothed out for the business cycle — namely potential GDP —, in the goods and services market of the nation.
The potential growth rate is the annual Estimating output gap for the Indian economy book of change in potential GDP. In factor markets. The output gap is an economic measure of the difference between the actual output of an economy and its potential output.
Potential output is the maximum amount of goods and services an economy can turn out when it is most effi- though it is difficult to estimate, the output gap has guided. This paper presents estimates of the output gap in the Polish economy in The output gap, usually defined as the difference between the logarithm of the real GDP and that of the potential GDP, indicates the imbalance existing in a real economy.
Thus the concept of output gap is based on the definition of unobserved potential output. India’s potential growth for the most recent period is about %, with a band of (+/-) 50 basis points (bps), found a working paper authored by Barendra Kumar Bhoi and Harendra Kumar Behera.
Estimating the Indian Natural Interest Rate and Evaluating Policy 1 Introduction We estimate the unobserved time-varying natural interest rate (NIR) and potential output for the Indian economy for the period QQ4 us-ing the Kalman Filter. While there is a literature on such estimation1.
Downloadable. We estimate the unobserved time-varying natural interest rate (NIR) and potential output for the Indian economy using the Kalman Filter. Estimation is a special challenge in an emerging market because of limited length of data series and ongoing structural change.
A key result in the literature is the NIR is imprecisely estimated. An output gap is an economic measure of the difference between the actual output of an economy and the output it could achieve when at full capacity.
CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): We estimate the unobserved time-varying natural interest rate (NIR) and potential output for the Indian economy using the Kalman Filter.
Estimation is a special challenge in an emerging market because of limited length of data series and ongoing structural change.
A key result in the literature is the NIR is. But the danger in output gap is that potential output and its growth rates for the Indian economy have been debatable. A working paper by RBI states that potential output growth may have.
the structure of the Indian economy is expected to reveal the importance of the resource intensive, technology intensive and labour and capital-intensive sectors in the production structure of the Indian economy. The structural relationship of an economy can be examined by using the input-output tables.
Kaushik Basu, Professor of Economics at Cornell and former Chief Economist of the World Bank (), says there's a Gandhian way of evaluating society that takes account of both growth and inequality, and tells us why his job is an anthropologist's dream come picks the best books to understand India's economy.
Interview by Sophie Roell. Accurate estimation of output gap is an important and challenging problem for any economy. We consider here the problem of estimating the output gap for the Indian economy. The estimation of output gap involves a hypothetical variable, the potential output of the economy.
In this paper, we propose a wavelet filtering based technique for. The results showed that a unit increase in the Investment-Savings gap worsened the output gap by units, while a unit increase in the Export-Import gap worsened the output gap by unit.
A negative output gap occurs when actual output is less than what an economy could produce at full capacity. A negative gap means that there is spare capacity, or slack, in the economy due to weak demand (see chart). An output gap suggests that an economy is running at an inefficient rate—either overworking or underworking its resources.
Inafter two years of economic decline, the IMF estimated that real GDP in stood at percent above potential. Byhowever, the IMF revised its estimate of this output gap to percent. Yet the economy exhibited no real sign of overheating in Table 1 compares. India faces stubbornly high inflation and a widening negative output gap.
Social and political turmoil in the Middle East and north Africa continues to keep output below potential.Finance-Neutral Output Gap: Empirical Estimates for India: Deba Prasad Rath, Pratik Mitra and Joice John 1.
Abstract. This study provides the context, rationale and analytical framework of the finance-neutral output gap (FNOG) of an economy. Less than a quarter of women in India are in the labour force — among the poorest standings in the world — and they earn 35% less on average than men, compared to the global average of a 16% gap.
Women represent 49% of India’s population yet contribute only 18% to its economic output, about half the global average.