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Measuring Potential Output in the Agricultural Sector: The Case of Greece

Author

Listed:
  • Subrata Ghatak
  • George Manolas
  • Ioannis Vavouras

Abstract

This paper attempts to estimate the potential output of the agricultural sector of the Greek economy and then to produce medium-term projections for it. The Hodrick-Prescott filter and the "production function" approach using cointegration techniques are used to estimate the potential agricultural output. Based on the regression results, projections for the potential agricultural output in Greece are made for the period 1996-2005, as an extrapolation of the trends of the last years.

Suggested Citation

  • Subrata Ghatak & George Manolas & Ioannis Vavouras, 1998. "Measuring Potential Output in the Agricultural Sector: The Case of Greece," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 26-40, July - Se.
  • Handle: RePEc:ers:journl:v:i:y:1998:i:3:p:26-40
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    More about this item

    Keywords

    Greek Agriculture; Potential Output; Output Gap; Production Function; Hodrick-Prescott Filter; Cointegration; Projections;
    All these keywords.

    JEL classification:

    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods

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