Estimating potential output, output gaps and structural budget balances
Organisation for Economic Co-operation and Development, 1995 - Budget - 55 pages
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Estimating Structural Budget Balances
Determination of Incometax and Social Security Contributions Elasticities
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Actual GDP Output actual output Actual Previous method adjusted assessment Austria Average 87 Business sector potential business-sector cent of trend component cyclical cyclical deficits DEPARTMENT WORKING PAPERS Economics Department elasticities of income Elmeskov ESTIMATING POTENTIAL OUTPUT GDP Output growth government expenditure gross earnings growth Output gap Growth rates Output Hodrick-Prescott Potential 1987 Hodrick-Prescott Potential Previous household HP filter income tax Ireland Italy Italy United Kingdom Japan judgement KYDLAND macroeconomic measure of potential measure of trend method Hodrick-Prescott Potential method Trend GDP NAWRU estimate OECD Secretariat old elasticities output Actual GDP Output elasticities Output growth Output Portugal potential GDP Potential output Actual Potential Previous method Previous method Hodrick-Prescott previous method Trend production function projected rates Output gaps Richard Herd sector potential output smoothing social security contributions Spain split time-trend method structural budget balances structural deficit Sweden tax and social tax elasticities total factor productivity trend estimates trend output United Kingdom