Potential Output Growth in Several Industrialised Countries: A Comparison
Copyright policy )Potential Output Growth in Several Industrialised Countries: A Comparison
In this paper, we present international comparisons of potential output growth among several economies—Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States—for the period 1991–2004, for which we construct consistent and homogenous capital stock series. The main estimates rely on a structural approach where output of the whole economy is described by a Cobb–Douglas function and Total Factor Productivity (TFP) is estimated allowing for possible breaks in the deterministic trend. The results confirm that over the considered period the potential gross domestic product growth has been faster in the United States than in other studied countries, reflecting a combination of higher labour contribution and faster TFP growth. Overall, this paper might help to shed some light on cross-country differences in economic performance over the recent period.
JEL: C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C51 - Model Construction and Estimation, JEL: O - Economic Development, 330, age of equipments, potential growth, production function, total factor productivity, total factor productivity, and Cycles/E.E3.E32 - Business Fluctuations • Cycles, âge du capital, O47, age of equipments, fonction de production, Industrieländer, Business Fluctuations, potential growth, C51, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence, and Growth/O.O1 - Economic Development/O.O1.O11 - Macroeconomic Analyses of Economic Development, production function, Innovation, E32, Wirtschaftswachstum, O11, ddc:330, productivité globale des facteurs, croissance potentielle, JEL: E - Macroeconomics and Monetary Economics/E.E3 - Prices, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, Technological Change, Nutzungsdauer, Produktionspotenzial, Cobb-Douglas-Produktionsfunktion, potential growth,production function,total factor productivity,age of equipments,croissance potentielle,fonction de production,productivité globale des facteurs,âge du capital, Produktivität
JEL: C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C51 - Model Construction and Estimation, JEL: O - Economic Development, 330, age of equipments, potential growth, production function, total factor productivity, total factor productivity, and Cycles/E.E3.E32 - Business Fluctuations • Cycles, âge du capital, O47, age of equipments, fonction de production, Industrieländer, Business Fluctuations, potential growth, C51, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence, and Growth/O.O1 - Economic Development/O.O1.O11 - Macroeconomic Analyses of Economic Development, production function, Innovation, E32, Wirtschaftswachstum, O11, ddc:330, productivité globale des facteurs, croissance potentielle, JEL: E - Macroeconomics and Monetary Economics/E.E3 - Prices, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, Technological Change, Nutzungsdauer, Produktionspotenzial, Cobb-Douglas-Produktionsfunktion, potential growth,production function,total factor productivity,age of equipments,croissance potentielle,fonction de production,productivité globale des facteurs,âge du capital, Produktivität
selected citations These citations are derived from selected sources.This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).9 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Average influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Top 10% impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Average
Citations provided by BIP!Popularity provided by BIP!