Measuring Excess Demand and its Impact on Inflation.
Excess demand pressures play a fundamental role in macroeconomic policy and analysis. The output gap, as a proxy for excess demand, is widely used but is notoriously difficult to measure due to it being a latent variable. This thesis discusses the most prominent measures of the output gap, analysing...
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| Format: | Thesis |
| Language: | English |
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University of Oxford;Nuffield College
2003
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