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Multivariate structural time series models with dual cycles: implications for measurement of output gap and potential growth
Moës, Philippe - 2008
enables hysteresis to be taken into account. Hysteresis is likely to show up in unemployment but it can also affect the … capital stock due to the existence of long investment cycles. In the proposed model, hysteresis may affect all the factor … be computed that are hysteresis-free and less prone to volatility. A complementary measure of the output gap that takes …
Persistent link: https://www.econbiz.de/10011506657
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The production function approach to the Belgian output gap, Estimation of a Multivariate Structural Time Series Model
Moës, Philippe - 2006
A multivariate structural time series model is applied to the factor inputs of a production function (or components thereof) to estimate the Belgian output gap. The usefulness of capacity utilization is also investigated but the variable is not given a prominent status. The number of independent...
Persistent link: https://www.econbiz.de/10011506611
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Growth accounting for the euro area: a structural approach
Proietti, Tommaso; Musso, Alberto - 2007
This paper is concerned with the estimation of euro area potential output growth and its decomposition according to the sources of growth. The growth accounting exercise is based on a multivariate structural time series model which combines the decomposition of total output according to the...
Persistent link: https://www.econbiz.de/10011604850
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Strong hysteresis due to age effects
Chen, Yu-Fu - 2009
Persistent link: https://www.econbiz.de/10014306485
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Methoden der Schätzung des gesamtwirtschaftlichen Produktionspotentials und der Produktionslücke
Weyerstraß, Klaus - 2001
und Verfahren, die explizit die ökonomische Theorie berücksichtigen. Hier ist insbesondere der Produktionsfunktions …
Persistent link: https://www.econbiz.de/10010316332
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Non-linearities and fractional integration in the US unemployment rate
Caporale, Guglielmo Maria; Gil-Alana, Luis A. - 2004
real interest rates). We also find evidence of a long-memory component. Our results are consistent with a hysteresis model …
Persistent link: https://www.econbiz.de/10010295392
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Driving factors of growth in Hungary - a decomposition exercise
Kátay, Gábor; Wolf, Zoltán - 2008
Applications tend to ignore that measured TFP reflects the variation of output that cannot be explained by changes in inputs. Such a change is not necessarily technological, so measured TFP differences across firms are an amalgam of technological, efficiency and other differences in attributes,...
Persistent link: https://www.econbiz.de/10010322437
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Chronic excess capacity and unemployment hysteresis in EU countries: A structural approach
Bassi, Federico - 2020
unemployment function. Our results provide evidence of chronic underutilization of productive capacity and hysteresis in …
Persistent link: https://www.econbiz.de/10012609087
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Schätzung von Produktionspotenzial und -lücke: Eine Analyse des EU-Verfahrens und mögliche Verbesserungen
Ademmer, Martin; Boysen-Hogrefe, Jens; Carstensen, Kai; … - 2019
Schätzungen des Produktionspotenzials und der Produktionslücke einer Volkswirtschaft sind von großer Bedeutung für die Wirtschaftspolitik. Sie spielen eine wesentliche Rolle für den Europäischen Stabilitäts- und Wachstumspakt und für die im Grundgesetz verankerte Schuldenbremse. In der...
Persistent link: https://www.econbiz.de/10011985218
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Was kostet die Krise? Mittelfristige Wachstumsperspektiven in Deutschland, 2010 - 2014
Buchen, Teresa; Carstensen, Kai; Henzel, Steffen; … - 2010
ist. Dazu wird das Produktionspotenzial im Rahmen einer Wachstumsbilanzierung unter Zuhilfenahme von strukturellen …
Persistent link: https://www.econbiz.de/10010427571