Trend Growth

Ed Balls, Joe Grice and Gus O’Donnell

Chapter 3 in Microeconomic Reform in Britain, 2004, pp 44-64 from Palgrave Macmillan

Abstract: Abstract This chapter provides an explanation of overall economic performance which illustrates why microeconomic reforms have concentrated to a large extent on improving productivity and the labour market. It sets out the basic concepts related to trend output growth and its applications in economic analysis and policy-making, explains how trend growth is defined and estimated using different methods, and gives an analysis of the decomposition of trend growth and projection of its components.

Keywords: Productivity Growth; Fiscal Policy; Employment Rate; Trend Growth; Labour Productivity Growth (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51833-9_4

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DOI: 10.1057/9780230518339_4

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