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Potential Output In The Czech Republic: A Production Function Approach Author info | Abstract | Publisher info | Download info | Related research | Statistics Jaromír Hurník
David Navrátil
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This paper deals with the Czech economy supply side performance from the macroeconomic point of view. In order to evaluate the supply side behaviour we calculate the potential output dynamic path and contribution of its particular determinants using the production function method. The results show that the potential output growth was rather slow around 2 per cent. This implies that e. g. even 3 per cent growth can cause macroeconomic imbalances. Increase of the non-accelerating-inflation-rate of unemployment (NAIRU), weak growth of the capital stock and weak growth of total factor productivity appear to be the reasons for the constrained ability of the Czech economy to grow steadily and converge to EU level.
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Article provided by University of Economics, Prague in its journal Prague Economic Papers .
Volume (Year): 2005 (2005)
Issue (Month): 3 ()
Pages: 253-266
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Handle: RePEc:prg:jnlpep:v:2005:y:2005:i:3:id:265:p:253-266Contact details of provider: Postal: nam. W. Churchilla 4, 130 67 Praha 3 Phone: (02) 24 09 51 11 Fax: (02) 24 22 06 57 Web page: http://www.vse.cz/ More information through EDIRC
Order Information: Postal: Editorial office Prague Economic Papers, University of Economics, nám. W. Churchilla 4, 130 67 Praha 3, Czech Republic Email: Web: http://www.vse.cz/pep/
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Keywords: total factor productivity ; production function ; potential output ; NAIRU ; capital stock ; Other versions of this item:
Find related papers by JEL classification: E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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Ian Babetskii & Ales Bulir & Fabrizio Coricelli & Jan Filacek & Michal Franta & Roman Horvath & Branislav Saxa & Katerina Smidkova, 2008.
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