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We propose a multivariate Bayesian state space model to identify potential growth and the output gap consistent with the dynamics of the underlying production sectors of the economy and those of inflation and the labor market. Our approach allows us to decompose economic fluctuations and...
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utilisation (CU) as the second series has been proven to produce more reliable estimates of the Total Factor Productivity (TFP …
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behavior of productivity during expansions will be analyzed for twenty production branches by applying the methodology proposed … by Leamer (2007), based on the decomposition of contributions to the growth of the productivity of each of these branches … productivity during recessions as well as those that have created an important stimulus to productivity during expansions. …
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