A Markov-Switching DSGE model for measuring the output gap in Brazil

A Markov-Switching DSGE model for measuring the output gap in Brazil

The output gap, while inherently unobservable, plays a pivotal role in informing policymakers due to its significant implications for forecasting inflation rates and understanding the mechanisms of monetary policy transmission. Traditional filters frequently employed in estimating the output gap fac...

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Bibliographic Details
Main Authors: Eleonora de Oliveira, Andreza A. Palma, Marcelo S. Portugal
Format: Article
Language:English
Published: Elsevier 2024-03-01
Series:Latin American Journal of Central Banking
Subjects:
Output gap
Markov switching
DSGE
Bayesian estimation
Online Access:http://www.sciencedirect.com/science/article/pii/S2666143824000036

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