We evaluate New Zealand's macroeconomic performance over the 1967-96 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...

This paper examines the contribution of nonresident workers to Swiss production possibilities in an open-economy setting. The analysis is based on the GNP function approach to modeling the demand for imports and it treats foreign labor services and imports as two of several inputs to the...

This paper identifies the contributions of the major factors explaining Swiss nominal GNP growth in an open-economy setting: technological change, increases in the endowments of labor and capital, movements in the terms of trade, and domestic output price changes. We follow in turns a...

Conventional unemployment rate measures tend to overestimate the degree of labor underutilization if unemployment disproportionately affects less educated and generally less productive workers. Based on index number theory as well as on econometric techniques, this article proposes a number of...

In this paper we estimate oil and nonoil import demand functions for the United States under the assumption that import prices are uncertain. Both import demand functions are formally derived from an expected utility maximization problem, treating imports as inputs to the technology. The model...