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- W243983062 abstract "The presence of “economic slack” directly implies that an economy can grow quickly without any necessary offsetting slow growth or retrenchment in the future. Based on this link between economic slack and future economic growth, I argue for a forecastbased estimate of the output gap as a measure of economic slack. This approach has the advantage of being robust to different assumptions about the underlying structure of the economy and allows for empirical analysis of a Phillips Curve relationship between the output gap and inflation. I apply this approach to investigate economic slack and the Phillips Curve for selected economies in Asia and the Pacific, taking into account structural breaks in long-run growth and uncertainty about the appropriate forecasting model." @default.
- W243983062 created "2016-06-24" @default.
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- W243983062 date "2013-01-01" @default.
- W243983062 modified "2023-09-28" @default.
- W243983062 title "Measuring Economic Slack in Asia and the Pacific" @default.
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