This paper identifies the major factors explaining GDP growth in a number of South-East Asian countries during the eighties and early nineties. Estimates of the contribution of technological change, increases in the endowments of labor and capital, movements in the terms of trade, and changes in...

The purpose of this paper is to assess the contribution of each one of the major factors explaining Australian nominal GDP growth: technological change, movements in the terms of trade, increases in the endowments of labor and capital, and changes in domestic output prices. We use and index...

We evaluate New Zealand's macroeconomic performance over the 1967-1996 period, which witnessed numerous economic reforms. Using both index-number and econometric techniques, we decompose nominal GDP growth and the output gap into contributions from price level changes, productivity growth and...

In this paper, we provide a decomposition of GDP growth that is complete and exact for the translog national income function and for the Tornqvist index of real GDP. The contributions of changes in output quantities, factor prices and total factor productivity are identified. Special...

In this paper, we estimate the effects of import-price uncertainty on factor income in Switzerland. We use the production-theory approach to derive the import demand function from an expected utility maximization problem, treating imports as an input to the technology. The model is also used to...

Real gross domestic product (GDP) fails to account for the trading gains and losses that result from changes in the terms of trade and in the real exchange rate (the price of tradables relative to the price of nontradables). Canada has enjoyed vast improvements in its terms of trade over recent...

In this paper, we have a peek inside the black box of technology in an attempt to get a better understanding of the concept of joint production. We introduce the notion of input and output subtechnologies; these are then used as building blocks to define various types of production processes,...

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The consumer price index (CPI) is usually computed as a fixed-weighted Laspeyres price index, with the weights updated at discrete intervals only. It is well known that the Laspeyres functional form entails a substitution bias. One way to reduce it would be to use chained indices, and...