.getXYpcInd

defines Y and X for the Phillips curve.

internal

The output gap indicates the percentage difference between the actual output of an economy and its potential. Since potential output is a latent process, the estimation of the output gap poses a challenge and numerous filtering techniques have been proposed. 'RGAP' facilitates the estimation of a Cobb-Douglas production function type output gap, as suggested by the European Commission (Havik et al. 2014) <https://ideas.repec.org/p/euf/ecopap/0535.html>. To that end, the non-accelerating wage rate of unemployment (NAWRU) and the trend of total factor productivity (TFP) can be estimated in two bivariate unobserved component models by means of Kalman filtering and smoothing. 'RGAP' features a flexible modeling framework for the appropriate state-space models and offers frequentist as well as Bayesian estimation techniques. Additional functionalities include direct access to the 'AMECO' <https://economy-finance.ec.europa.eu/economic-research-and-databases/economic-databases/ameco-database_en> database and automated model selection procedures. See the paper by Streicher (2022) <http://hdl.handle.net/20.500.11850/552089> for details.

Sina Streicher

RGAP

Production Function Output Gap Estimation

.getXYpcInd function

<dl><dt>stateSmoothed</dt>
<dd>The smoothed states.</dd>
<dt>model</dt>
<dd>An object of class NAWRUmodel.</dd>
<dt>cycleLag</dt>
<dd>A vector specifying the cycle lags that are included in the Phillip's
curve. The default is <code>cycleLag = 0</code>, see details.</dd>
<dt>pcIndAR</dt>
<dd>Lag of the Phillips curve indicator.</dd>
<dt>names</dt>
<dd>The names of the columns.</dd>
<dt>trim</dt>
<dd>A logical indicating whether NAs should be trimmed.</dd></dl>

Arguments

defines Y and X for the Phillips curve. — .getXYpcInd

<dl>

<dt>stateSmoothed</dt>
<dd>The smoothed states.</dd>


<dt>model</dt>
<dd>An object of class NAWRUmodel.</dd>


<dt>cycleLag</dt>
<dd>A vector specifying the cycle lags that are included in the Phillip's
curve. The default is <code>cycleLag = 0</code>, see details.</dd>


<dt>pcIndAR</dt>
<dd>Lag of the Phillips curve indicator.</dd>


<dt>names</dt>
<dd>The names of the columns.</dd>


<dt>trim</dt>
<dd>A logical indicating whether NAs should be trimmed.</dd>

</dl>

.getXYpcInd: defines Y and X for the Phillips curve.

Description

Usage

Arguments