Revisions of potential output estimates in the EU after the Great Recession
Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP). Initially, tr...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Dokumenttyp: | Book/Monograph Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Munich, Germany
CESifo, Center for Economic Studies & Ifo Institute
[2019]
|
| Schriftenreihe: | CESifo working paper Category 6, Fiscal policy, macroeconomics and growth
no. 7681 (May 2019) |
| In: |
CESifo working papers (no. 7681 (May 2019))
|
| Schlagworte: | |
| Online-Zugang: | Resolving-System, kostenfrei, Volltext: http://hdl.handle.net/10419/201907 Verlag, kostenfrei, Volltext: https://www.cesifo.org/en/publikationen/2019/working-paper/revisions-potential-output-estimates-eu-after-great-recession Verlag, kostenfrei, Volltext: https://www.cesifo.org/DocDL/cesifo1_wp7681.pdf 
|
| Verfasserangaben: | Jonas Dovern, Christopher Zuber |
MARC
| LEADER | 00000cam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | 1669033449 | ||
| 003 | DE-627 | ||
| 005 | 20241125214523.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 190711s2019 gw |||||o 00| ||eng c | ||
| 024 | 7 | |a 10419/201907 |2 hdl | |
| 035 | |a (DE-627)1669033449 | ||
| 035 | |a (DE-599)KXP1669033449 | ||
| 035 | |a (OCoLC)1158498988 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 044 | |c XA-DE | ||
| 084 | |a 17 |2 sdnb | ||
| 084 | |a E32 |2 jelc | ||
| 100 | 1 | |a Dovern, Jonas |d 1980- |e VerfasserIn |0 (DE-588)132157322 |0 (DE-627)518497739 |0 (DE-576)298976013 |4 aut | |
| 245 | 1 | 0 | |a Revisions of potential output estimates in the EU after the Great Recession |c Jonas Dovern, Christopher Zuber |
| 264 | 1 | |a Munich, Germany |b CESifo, Center for Economic Studies & Ifo Institute |c [2019] | |
| 300 | |a 1 Online-Ressource (circa 29 Seiten) |b Illustrationen | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 1 | |a CESifo working paper |v no. 7681 (May 2019) |a Category 6, Fiscal policy, macroeconomics and growth | |
| 520 | |a Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP). Initially, trend TFP revisions contribute most to the overall PO revisions while all three components are almost equally important in the longer run. Revisions of the capital stock happen quickly while revisions of trend labor, mainly driven by revisions of the non-accelerating wage rate of unemployment (NAWRU), are made gradually. The relative contributions of the components to overall PO revisions differ systematically across countries. This suggests that heterogeneous policies are needed to push different countries back to their previous growth paths. | ||
| 650 | 4 | |a potential output |7 (dpeaa)DE-206 | |
| 650 | 4 | |a trend |7 (dpeaa)DE-206 | |
| 650 | 4 | |a output gap |7 (dpeaa)DE-206 | |
| 650 | 4 | |a hysteresis |7 (dpeaa)DE-206 | |
| 650 | 4 | |a EC |7 (dpeaa)DE-206 | |
| 655 | 4 | |0 (DE-206)34 |a Graue Literatur |5 DE-206 | |
| 700 | 1 | |a Zuber, Christopher |d 1990- |e VerfasserIn |0 (DE-588)1144187079 |0 (DE-627)1003996043 |0 (DE-576)495258431 |4 aut | |
| 810 | 2 | |a CESifo GmbH |t CESifo working papers |v no. 7681 (May 2019) |9 7681 |w (DE-627)340076984 |w (DE-576)281209073 |w (DE-600)2065232-X |x 2364-1428 |7 am | |
| 856 | 4 | 0 | |u http://hdl.handle.net/10419/201907 |x Resolving-System |z kostenfrei |3 Volltext |
| 856 | 4 | 0 | |u https://www.cesifo.org/en/publikationen/2019/working-paper/revisions-potential-output-estimates-eu-after-great-recession |x Verlag |z kostenfrei |3 Volltext |
| 856 | 4 | 0 | |u https://www.cesifo.org/DocDL/cesifo1_wp7681.pdf |x Verlag |z kostenfrei |3 Volltext |
| 951 | |a BO | ||
| 992 | |a 20221011 | ||
| 993 | |a WorkingPaper | ||
| 994 | |a 2019 | ||
| 998 | |g 1144187079 |a Zuber, Christopher |m 1144187079:Zuber, Christopher |d 180000 |d 181000 |e 180000PZ1144187079 |e 181000PZ1144187079 |k 0/180000/ |k 1/180000/181000/ |p 2 |y j | ||
| 998 | |g 132157322 |a Dovern, Jonas |m 132157322:Dovern, Jonas |d 180000 |d 181000 |e 180000PD132157322 |e 181000PD132157322 |k 0/180000/ |k 1/180000/181000/ |p 1 |x j | ||
| 999 | |a KXP-PPN1669033449 |e 4195931487 | ||
| BIB | |a Y | ||
| JSO | |a {"origin":[{"dateIssuedDisp":"[2019]","publisher":"CESifo, Center for Economic Studies & Ifo Institute","publisherPlace":"Munich, Germany","dateIssuedKey":"2019"}],"physDesc":[{"noteIll":"Illustrationen","extent":"1 Online-Ressource (circa 29 Seiten)"}],"relMultPart":[{"dispAlt":"CESifo GmbH: CESifo working papers","part":{"number":["no. 7681 (May 2019)"],"number_sort":["7681"]},"corporate":[{"role":"aut","display":"CESifo GmbH"},{"role":"isb","display":"Ludwig-Maximilians-Universität München"}],"title":[{"title":"CESifo working papers","title_sort":"CESifo working papers"}],"disp":"CESifo working paper","type":{"media":"Online-Ressource","bibl":"serial"},"language":["eng"],"titleAlt":[{"title":"CESifo working paper series"},{"title":"Working paper"},{"title":"CES working paper series"}],"physDesc":[{"extent":"Online-Ressource"}],"origin":[{"publisherPlace":"München","dateIssuedKey":"1991","dateIssuedDisp":"1991-","publisher":"[Verlag nicht ermittelbar]"}],"note":["Gesehen am 30.04.25"],"pubHistory":["Nr. 1.1991 -"],"id":{"issn":["2364-1428"],"eki":["340076984"],"hdl":["10419/19"],"zdb":["2065232-X"]},"recId":"340076984"}],"person":[{"role":"aut","display":"Dovern, Jonas","family":"Dovern","given":"Jonas"},{"family":"Zuber","given":"Christopher","display":"Zuber, Christopher","role":"aut"}],"title":[{"title_sort":"Revisions of potential output estimates in the EU after the Great Recession","title":"Revisions of potential output estimates in the EU after the Great Recession"}],"recId":"1669033449","name":{"displayForm":["Jonas Dovern, Christopher Zuber"]},"language":["eng"],"type":{"media":"Online-Ressource","bibl":"book"},"id":{"hdl":["10419/201907"],"eki":["1669033449"]}} | ||
| SRT | |a DOVERNJONAREVISIONSO2019 | ||