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Measures of Potential Output
Mr.Fabio ScacciavillaniMr.Phillip Swagel
其他書名
An Application to Israel
出版International Monetary Fund, 1999-07-01
主題Business & Economics / Production & Operations ManagementBusiness & Economics / Economics / MacroeconomicsBusiness & Economics / Inflation
ISBN14518518989781451851892
URLhttp://books.google.com.hk/books?id=nlcYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This 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 toward 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. We employ five methodologies to derive estimates and find that four of the measures imply the slowdown stems largely from reduced growth of potential output rather than a cyclical slowdown.