Contents

Aggregate Demand Gap Based on a Simple Structural VAR Model

Cho, Dongchul

Abstract

This paper presents aggregate demand gaps for seven OECD countries using structural VAR estimation. These estimates are far more robust than HP-filtered series - typical estimates for GDP-gaps - and demonstrate that both aggregate demand and supply shocks were important in the recent global financial crisis. (C) 2011 Elsevier B.V. All rights reserved.

Issue Date
2012-02
Publisher
ELSEVIER SCIENCE SA
Keywords
Aggregate demand gap; Structural VAR; End-point problem
DOI
10.1016/j.econlet.2011.09.038
Journal Title
ECONOMICS LETTERS
Start Page
228
End Page
234
ISSN
0165-1765
Language
English
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