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Production function approach to calculating potential growth and output gaps - estimates for the EU Member States and the US

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Author Info

  • C�cile Denis
  • Kieran Mc Morrow
  • Werner R�ger
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    Abstract

    This paper describes the methodology for calculating potential growth and output gaps using a production function approach. On the basis of the Commission services Spring 2002 economic forecasts, the approach is illustrated by providing estimates for the EU's Member States, the Euro Zone and EU15 aggregates as well as for the United States.

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    File URL: http://ec.europa.eu/economy_finance/publications/publication1706_en.pdf
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    Bibliographic Info

    Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 176.

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    Length: 82 pages
    Date of creation: Sep 2002
    Date of revision:
    Handle: RePEc:euf:ecopap:0176

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    Keywords: production function; growth and output; economic forecasts; Denis; Mc Morrow; R�ger;

    References

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    Citations

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    Cited by:
    1. S. Adnan H. A. S., Bukhari & Safdar Ullah, Khan, 2008. "Estimating Output Gap for Pakistan Economy:Structural and Statistical Approaches," MPRA Paper 9736, University Library of Munich, Germany, revised 20 Jun 2008.
    2. Domenico Giannone & Lucrezia Reichlin, 2005. "Trends and cycles in the Euro Area: how much heterogeneity and should we worry about it?," Macroeconomics 0511016, EconWPA.
    3. Catherine Mathieu & Henri Sterdyniak, 2003. "Reforming the Stability and Growth Pact: Breaking the Ice," Documents de Travail de l'OFCE 2003-02, Observatoire Francais des Conjonctures Economiques (OFCE).
    4. Giuseppe Carone & C�cile Denis & Kieran Mc Morrow & Gilles Mourre & Werner R�ger, 2006. "Long-term labour productivity and GDP projections for the EU25 Member States : a production function framework," European Economy - Economic Papers 253, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    5. José Francisco Bellod Redondo, 2011. "La función de producción de Cobb-Douglas y la economía española," Revista de Economía Crítica, Asociación de Economía Crítica, vol. 12, pages 9-38.
    6. Matthias Mohr, 2005. "A Trend-Cycle(-Season) Filter," Econometrics 0508004, EconWPA.
    7. Rannenberg, Ansgar, 2008. "Disinflation and the NAIRU in a New-Keynesian New-Growth Model," MPRA Paper 9346, University Library of Munich, Germany.
    8. Antonella Palumbo, 2008. "I metodi di stima del PIL potenziale tra fondamenti di Teoria economica e Contenuto empirico," Departmental Working Papers of Economics - University 'Roma Tre' 0092, Department of Economics - University Roma Tre.
    9. Aleksejs Melihovs & Gundars Davidsons, 2006. "The Role of Production Progress and Human Capital in the Economic Growth of Latvia," Working Papers 2006/03, Latvijas Banka.
    10. Klaus Wohlrabe, 2011. "Konstruktion von Indikatoren zur Analyse der wirtschaftlichen Aktivität in den Dienstleistungsbereichen," ifo Forschungsberichte, Ifo Institute for Economic Research at the University of Munich, number 55, 6.

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