Economics at your fingertips  

Output gaps and technological progress in European monetary Union

Maria Antoinette Dimitz
Authors registered in the RePEc Author Service: Maria Antoinette Silgoner

No 20/2001, Research Discussion Papers from Bank of Finland

Abstract: Output gaps for ten European countries and the USA are estimated based on a CES production function with input augmentation in technological progress.The substitution parameter is estimated from the coefficients of the labour and capital demand functions. Estimation is carried out using Johansen's cointegration method. For six of the eleven countries analysed, the use of the Cobb Douglas form would not be appropriate.The output gap estimates show a similar cyclical pattern for all countries.They remain mostly within b14% except for Finland and Greece.Separating labour-augmenting and capital-augmenting technological progress gives insight into the driving forces of growth for individual countries.

Date: 2001-09-28
References: Add references at CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Research Discussion Papers from Bank of Finland Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland. Contact information at EDIRC.
Bibliographic data for series maintained by Minna Nyman ().

Page updated 2020-02-21
Handle: RePEc:bof:bofrdp:2001_020