Status: Bibliographieeintrag
Standort: ---
Exemplare:
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| Online-Ressource |
Verfasst von: | Dovern, Jonas [VerfasserIn]  |
| Zuber, Christopher [VerfasserIn]  |
Titel: | Revisions of potential output estimates in the EU after the Great Recession |
Verf.angabe: | Jonas Dovern, Christopher Zuber |
Verlagsort: | Munich, Germany |
Verlag: | CESifo, Center for Economic Studies & Ifo Institute |
E-Jahr: | 2019 |
Jahr: | [2019] |
Umfang: | 1 Online-Ressource (circa 29 Seiten) |
Illustrationen: | Illustrationen |
Gesamttitel/Reihe: | CESifo working paper ; no. 7681 (May 2019) : Category 6, Fiscal policy, macroeconomics and growth |
Abstract: | Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP). Initially, trend TFP revisions contribute most to the overall PO revisions while all three components are almost equally important in the longer run. Revisions of the capital stock happen quickly while revisions of trend labor, mainly driven by revisions of the non-accelerating wage rate of unemployment (NAWRU), are made gradually. The relative contributions of the components to overall PO revisions differ systematically across countries. This suggests that heterogeneous policies are needed to push different countries back to their previous growth paths. |
URL: | Bitte beachten Sie: Dies ist ein Bibliographieeintrag. Ein Volltextzugriff für Mitglieder der Universität besteht hier nur, falls für die entsprechende Zeitschrift/den entsprechenden Sammelband ein Abonnement besteht oder es sich um einen OpenAccess-Titel handelt.
kostenfrei: Volltext: http://hdl.handle.net/10419/201907 |
| kostenfrei: Volltext: https://www.cesifo.org/en/publikationen/2019/working-paper/revisions-potential-output-estimates-eu-after-great-recession |
| kostenfrei: Volltext: https://www.cesifo.org/DocDL/cesifo1_wp7681.pdf |
| 10419/201907 |
Datenträger: | Online-Ressource |
Sprache: | eng |
Sach-SW: | potential output |
| trend |
| output gap |
| hysteresis |
| EC |
Form-SW: | Graue Literatur |
K10plus-PPN: | 1669033449 |
Verknüpfungen: | → Übergeordnete Aufnahme |
Revisions of potential output estimates in the EU after the Great Recession / Dovern, Jonas [VerfasserIn]; [2019] (Online-Ressource)
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