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1) Discuss the strengths and weaknesses of different statistical methods for splitting data for output into trend and cyclical components, the use of judgement alongside

1) Discuss the strengths and weaknesses of different statistical methods for splitting data for output into trend and cyclical components, the use of judgement alongside or in place of those methods and the problems that would arise in the three equation model if the policy maker has an inaccurate estimate of equilibrium output.

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