Measures of Potential Output - An Application to Israel
AbstractThis paper estimates measures of potential output for Israel, with the aim of providing evidence on whether the recent growth slowdown is principally a cyclical slowdown or a structural shift towards a slower growth path after the dramatic developments associated with the years of heavy immigration. Israel poses a challenge because traditional methods of measuring potential output assume relatively stable conditions over an extended period of time. Five methodologies are employed to derive estimates and it is found that four of the measures imply the slowdown stems largely from reduced growth of potential output rather than a cyclical slowdown.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 99/96.
Date of creation: 01 Jul 1999
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- Fabio Scacciavillani & Phillip Swagel, 2002. "Measures of potential output: an application to Israel," Applied Economics, Taylor & Francis Journals, vol. 34(8), pages 945-957.
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