¿Cuál es el crecimiento de largo plazo de la economía chilena?: Una respuesta formal para una antigua pregunta
[Which is the growth of long term of the Chilean economy?]
The objective of this study is to estimate the Chilean economy’s growth rate in a context of full employment of the productive resources. As reference, some experts estimate at that the long term growth of the activity has fallen from 5 per cent to a rank between 4.5 per cent and 5 per cent in most recent months. We conclude formally, from the use of univariate time series models –including a deterministic trend (with structural breaks) and a stochastic trend (with and without regime switching), that the long term growth rate would be marginally below that rank (somewhat superior to 4 per cent) and with a moderate adjustment velocity when the activity relays far from the steady state (up to one year).
|Date of creation:||14 Feb 2008|
|Date of revision:||14 Aug 2008|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Perron, P., 1989.
"Testing For A Unit Root In A Time Series With A Changing Mean,"
347, Princeton, Department of Economics - Econometric Research Program.
- Perron, Pierre, 1990. "Testing for a Unit Root in a Time Series with a Changing Mean," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(2), pages 153-62, April.
- Christian Johnson, 2001.
"Un Modelo de Switching para el Crecimiento en Chile,"
Latin American Journal of Economics-formerly Cuadernos de Economía,
Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 38(115), pages 291-319.
- Christian A. Johnson, 2000. "Un Modelo de Switching para el Crecimiento en Chile," Working Papers Central Bank of Chile 84, Central Bank of Chile.
- Peter K. Clark, 1987. "The Cyclical Component of U. S. Economic Activity," The Quarterly Journal of Economics, Oxford University Press, vol. 102(4), pages 797-814.
- Clark, Peter K., 1989. "Trend reversion in real output and unemployment," Journal of Econometrics, Elsevier, vol. 40(1), pages 15-32, January.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:11114. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.