Republic of Latvia: Selected Issues

International Monetary Fund

No 2013/029, IMF Staff Country Reports from International Monetary Fund

Abstract: This note presents estimates of potential growth and the output gap in Latvia. The estimates suggest that the output has marked below potential in the early 2000s but the output gap becomes positive and large after EU accession. With unemployment still well above its natural level, the output gap is estimated to be negative in 2012, but is expected to narrow gradually and be closed in the next 3–4 years. Potential growth is expected to be substantially lower than in 2002–07.

Keywords: ISCR; CR; estimate; labor market; output gap estimate; crisis; unemployment gap; vocational education; output gap in Latvia; Output gap; Potential output; Unemployment rate; Labor markets; Europe; Baltics; Global (search for similar items in EconPapers)
Pages: 54
Date: 2013-01-28
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