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UBS economists eyed "potential GDP" and.....>

US VIEW
US VIEW: UBS economists eyed "potential GDP" and cited 3 major approaches to
estimating it: the "univariate methods, which we define as methods that estimate
potential directly from GDP using statistical filtering techniques; multivariate
methods, which use a variety of economic relationships to impose structure on
the statistical filtering procedures; and production function or growth
accounting frameworks, which build up to an estimate of potential from estimates
of the underlying factors of production." 
- They prefer to use "growth accounting approach" as it "imposes economic
structure on the data in a manner that also gives a view on the potential levels
of labor, capital, and total factor productivity. It provides a platform for
discussing the drivers of potential output and also insight into the underlying
drivers which are important concepts in their own right. This approach is
utilized by the Congressional Budget Office (CBO) and many other institutions."

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