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| Author: | Coe, D. T. McDermott, J. |
| Title: | Does the gap model work with in Asia? |
| Journal: | Staff Papers
1997 : MAR, VOL. 44:1, p. 59-80 |
| Index terms: | OUTPUT INFLATION MODELS ASIA |
| Language: | eng |
| Abstract: | From industrial countries there is considerable evidence that the output gap is an important determinant of inflation . This study investigates whether the gap model works in developing, newly industrializing and industrial Asian economies. The study presents a new prodecure to estimate trend output that allows the data to determine the degree of smoothing rather than requiring the researcher to specify this arbitrarily.The study then uses the output gaps implied by the estimated trends to test a number of versions of the gap model. The gap model works well in almost all Asian economics. |
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