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The reliability of South African real-time output gap estimates

Author

Listed:
  • Greg Farrell
  • Jessica Kramer

Abstract

Estimates of the output gap are an important component of policy-makers’ toolkits. Both the theory underlying monetary policy analysis and the empirical models employed by central banks suggest that the output gap is a key variable explaining inflation. In this view, the estimate of the output gap provides not only an indication of how well […]

Suggested Citation

  • Greg Farrell & Jessica Kramer, 2014. "The reliability of South African real-time output gap estimates," Working Papers 428, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:428
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    File URL: https://econrsa.org/wp-content/uploads/2022/06/working_paper_428.pdf
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    Citations

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    Cited by:

    1. Johannes W. Fedderke & Daniel K. Mengisteab, 2017. "Estimating South Africa's Output Gap and Potential Growth Rate," South African Journal of Economics, Economic Society of South Africa, vol. 85(2), pages 161-177, June.
    2. Johannes Hermanus Kemp, 2015. "Measuring Potential Output for the South African Economy: Embedding Information About the Financial Cycle," South African Journal of Economics, Economic Society of South Africa, vol. 83(4), pages 549-568, December.
    3. Johannes W. Fedderke, 2022. "Identifying steady‐state growth and inflation in the South African economy, 1960–2020," South African Journal of Economics, Economic Society of South Africa, vol. 90(3), pages 279-300, September.

    More about this item

    Keywords

    Monetary Policy; Other Macroeconomic Variables; South Africa;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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