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These brief essays delve into the economic issues of the day for a generally informed readership.

2009, No. 45 (Posted 2009-12-16)

Has the Recent Real Estate Bubble Biased the Output Gap?

by Chanont Banternghansa and Adrian Peralta-Alva

We offer a word of caution to policymakers: Policies based on point estimates of the output gap may not rest on solid ground.

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