In this paper, we examine whether domestic or global output gap affects inflation in three panels: the European Union … show that after the crisis the global output gap predicts the evolution of inflation in the Eurozone panel. On the other … hand, the domestic output gap predicts inflation in the European Union. In the precrisis period, the determinant of …

Determining potential output and the output gap-two inherently unobservable variables-is a major challenge for …

fiscal policies. A key measure in this new technical apparatus, the output gap, has been at the center of a heated … contestation between Italian and European institutions over the 2014-2019 period. Taking the case of the Italian output gap, this …

In this paper, we examine whether domestic or global output gap affects inflation in three panels: the European Union … show that after the crisis the global output gap predicts the evolution of inflation in the Eurozone panel. On the other … hand, the domestic output gap predicts inflation in the European Union. In the precrisis period, the determinant of …

Output gap revisions can be large even after many years. Real-time reliability tests might therefore be sensitive to … the choice of the final output gap vintage that the real-time estimates are compared to. This is the case for the Federal … Reserve's output gap. When accounting for revisions in response to the global financial crisis in the final output gap, the …