caa a22 4500 46789633X CHVBK 20180406152805.0 cr unu---uuuuu 170328e20061101xx s 000 0 eng 10.1007/s00181-006-0063-8 doi (NATIONALLICENCE)springer-10.1007/s00181-006-0063-8 An Eclectic Approach to Estimating U.S. Potential GDP [Elektronische Daten] [Marc-André Gosselin, René Lalonde] Rennison (Comparing alternative output gap estimations: a Monte Carlo approach, 2003) has provided simulation-based evidence showing that the joint use of extended multivariate filters and structural vector autoregression models is optimal for estimating potential output. We use this approach to estimate the two components of potential GDP: the full-employment labour input and trend labour productivity. This decomposition is useful for identifying sources of fluctuations in potential output. It reveals, for example, that the vigorous growth rate of U.S. potential GDP recorded during the second half of the 1990s is attributable to a fall in the structural rate of unemployment and a marked upswing in trend productivity growth. Springer-Verlag, 2006 Business cycle nationallicence Potential GDP nationallicence Output gap nationallicence NAIRU nationallicence Gosselin Marc-André Bank of Canada, 234 Wellington, K1A 0G9, Ottawa, ON, Canada aut Lalonde René Bank of Canada, 234 Wellington, K1A 0G9, Ottawa, ON, Canada aut Empirical Economics Springer-Verlag 31/4(2006-11-01), 951-975 0377-7332 31:4<951 2006 31 181 https://doi.org/10.1007/s00181-006-0063-8 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s00181-006-0063-8 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Gosselin Marc-André Bank of Canada, 234 Wellington, K1A 0G9, Ottawa, ON, Canada aut NATIONALLICENCE 700 1- Lalonde René Bank of Canada, 234 Wellington, K1A 0G9, Ottawa, ON, Canada aut NATIONALLICENCE 773 0- Empirical Economics Springer-Verlag 31/4(2006-11-01), 951-975 0377-7332 31:4<951 2006 31 181 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer