Is potential output growth falling?

Ivan Mendieta-Muñoz

MPRA Paper from University Library of Munich, Germany

Abstract: We estimate the rate of growth consistent with a stable unemployment rate for four advanced economies (Canada, Germany, the United Kingdom and the United States) using a Heckman-type two step estimation procedure that deals with the issue of endogenous regressors in a time-varying parameter model. The results show that this rate of growth of potential output has been falling in the four countries of study, so that these countries have been systematically loosing capacity to grow during the postwar era.

Keywords: potential output growth rate; constant unemployment rate; time-varying parameter models (search for similar items in EconPapers)
JEL-codes: C50 O40 O49 (search for similar items in EconPapers)
Date: 2015-12-09
New Economics Papers: this item is included in nep-eec and nep-eff
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https://mpra.ub.uni-muenchen.de/68278/1/MPRA_paper_68278.pdf original version (application/pdf)

Related works:
Working Paper: Is Potential Output Growth Falling? (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:68278

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