This paper estimates the GDP gap in Venezuela by means of the structural VAR methodology and the Blanchard and Quah decomposition for the period 1999:1-2010:4. We use quarterly data for the inflation rate, real GDP, unemployment rate, and oil prices. We identify fiscal and monetary innovations...

This paper presents a procedure for estimating potential output and the total factor productivity (TFP), to be applied to Peruvian economy. On the basis of potential output series the economic cycle is then calculated to demonstrate that the output gap includes the TFP gap and the unemployment...

According to the national accounts of Iran, during the period of 1988-2003 the annual change in inventories in this economy was highly variable and averaged 7.3 percent of GDP if calculated at current prices. In an ideal economy with no distortions, change in inventories should be zero on...

According to the national accounts of Iran, during the period of 1988-2003 the annual change in inventories in this economy was highly variable and averaged 7.3 percent of GDP if calculated at current prices. In an ideal economy with no distortions, change in inventories should be zero on...

El objetivo de este trabajo es estudiar si la variable precios del petróleo está alimentando el fenómeno de inflación importada en Colombia para el periodo comprendido entre enero del 2000 y julio del 2009. La estrategia de estimación es el modelo VAR (vectores autorregresivos), teniendo en...

Uno de los objetivos de la política económica de mayor relevancia en los próximos años es aprovechar las oportunidades internas y externas que tendrá el país. No obstante, la evidencia muestra que la economía colombiana no ha podido superar de manera sostenida niveles de crecimiento por...

"En el presente documento se realizan estimaciones del producto potencial para el periodo 1950-2006 bajo tres grupos de métodos distintos y discuten las diferencias y limitaciones de los resultados obtenidos. Además, se presentan estimados del stock de capital, la inversión neta y el producto...

This work quantifies the financial and macroeconomic effects of the most significant Brexit events from 23 June 2016 up to 31 December 2019 for fifteen economies. The study uses high-frequency data and shows that following the referendum outcome, overall the 10-year government bond yield of the...

This paper is an attempt to investigate the impact of economic reforms on the economic issues in Ethiopia. Different economic issues - parameters determining the effectiveness of economic reforms are separately discussed to measure how far Ethiopia has benefited from the reform policy. A simple...

How can national income be adjusted to indicate welfare improvement if the future is uncertain? The present paper extends the definition of national income to stochastic settings on the basis of discounted utilitarian welfare function. Real interest rate of consumption is redefined so that real...