Advanced Search
MyIDEAS: Login to save this article or follow this journal

Sources of growth and output gaps in New Zealand: New methods and evidence

Contents:

Author Info

  • Kevin Fox
  • Ulrich Kohli
  • Ronald Warren

Abstract

We extend Fox, Kohli, and Warren (2002) by using alternative techniques to re-examine the sources of New Zealand's macroeconomic performance during the period 1983-2001. Specifically, a modified Diewert-Morrison decomposition is used to quantify the separate contributions from productivity growth and changes in factor utilization, the terms of trade and the trade balance to GDP growth. We also use a new Fisher-index decomposition to analyze the determinants of GDP growth. These techniques are adapted to identify sources of deviations of GDP from its trend. The results of these decompositions reveal that changes in domestic prices accounted for three-fifths of the growth of nominal GDP over the entire sample period. Capital accumulation and employment growth were wholly responsible for the real-output growth in this time frame. However, changes in total-factor productivity or in the terms of trade contributed importantly to changes in real net output and in an index of aggregate welfare in specific years. Finally, no one factor was primarily responsible for explaining changes in the nominal (or real) output gap over the whole period.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.tandfonline.com/doi/abs/10.1080/00779950309544379
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Taylor & Francis Journals in its journal New Zealand Economic Papers.

Volume (Year): 37 (2003)
Issue (Month): 1 ()
Pages: 67-92

as in new window
Handle: RePEc:taf:nzecpp:v:37:y:2003:i:1:p:67-92

Contact details of provider:
Web page: http://www.tandfonline.com/RNZP20

Order Information:
Web: http://www.tandfonline.com/pricing/journal/RNZP20

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Kevin J Fox, 2005. "Returns to Scale, Technical Progress and Total Factor Productivity Growth in New Zealand Industries," Treasury Working Paper Series 05/04, New Zealand Treasury.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:taf:nzecpp:v:37:y:2003:i:1:p:67-92. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.