Ảnh bìa

A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries

Was the postcrisis growth slowdown in Central, Eastern and Southeastern Europe (CESEE) structural or cyclical? We use three different methods—production function approach, basic multivariate filter, and multivariate filter with financial frictions—to evaluate potential growth and output gaps for...

Miêu tả chi tiết

Được lưu tại giá sách ảo:
Hiển thị chi tiết
Tác giả chính: Jiří Podpiera
Đồng tác giả: Faezeh Raei
Định dạng: Báo cáo
Ngôn ngữ:en_US
Xuất bản : IMF Working Paper Janu
Chủ đề:
Potential output
Output gap
Emerging Markets
Truy cập trực tuyến:http://hdl.handle.net/11742/39076
Từ khóa (tag):
_version_ 1861213743622389760
author Jiří Podpiera
author2 Faezeh Raei
author_facet Faezeh Raei
Jiří Podpiera
author_sort Jiří Podpiera
collection DSpaceTVQH
description Was the postcrisis growth slowdown in Central, Eastern and Southeastern Europe (CESEE) structural or cyclical? We use three different methods—production function approach, basic multivariate filter, and multivariate filter with financial frictions—to evaluate potential growth and output gaps for 18 CESEE countries during 2000-15. Our findings suggest that potential growth weakened significantly after the crisis across most countries in the region. This decline appears to be largely due to stagnant productivity and weaker capital accumulation, which were associated with common external factors, including trading partners’ slow potential growth, but also decline in global trade and stalled expansion of global value chains. Our estimates suggest that output gaps in 2015 were largely closed in many countries in the region.
format Báo cáo
id oai:http:--thuvienso.quochoi.vn:11742-39076
institution Thư viện số
language en_US
publishDate Janu
publisher IMF Working Paper
record_format dspace
spelling oai:http:--thuvienso.quochoi.vn:11742-390762017-09-06T02:31:21Z A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries Jiří Podpiera Faezeh Raei Ara Stepanyan Potential output Output gap Emerging Markets Was the postcrisis growth slowdown in Central, Eastern and Southeastern Europe (CESEE) structural or cyclical? We use three different methods—production function approach, basic multivariate filter, and multivariate filter with financial frictions—to evaluate potential growth and output gaps for 18 CESEE countries during 2000-15. Our findings suggest that potential growth weakened significantly after the crisis across most countries in the region. This decline appears to be largely due to stagnant productivity and weaker capital accumulation, which were associated with common external factors, including trading partners’ slow potential growth, but also decline in global trade and stalled expansion of global value chains. Our estimates suggest that output gaps in 2015 were largely closed in many countries in the region. January 2017 Báo cáo http://hdl.handle.net/11742/39076 en_US IMF Working Paper application/pdf IMF Working Paper IMF Working Paper
spellingShingle Potential output
Output gap
Emerging Markets
Jiří Podpiera
A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries
title A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries
title_full A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries
title_fullStr A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries
title_full_unstemmed A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries
title_short A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries
title_sort fresh look at potential output in central eastern and southeastern european countries
topic Potential output
Output gap
Emerging Markets
url http://hdl.handle.net/11742/39076
work_keys_str_mv AT jiripodpiera afreshlookatpotentialoutputincentraleasternandsoutheasterneuropeancountries
AT jiripodpiera freshlookatpotentialoutputincentraleasternandsoutheasterneuropeancountries

Tài liệu tương tự