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Estimating Potential Output In Chile

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Estimating Potential Output In Chile

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Author : Patrick Blagrave
language : en
Publisher: International Monetary Fund
Release Date : 2016-10-14

Estimating Potential Output In Chile written by Patrick Blagrave and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-14 with Business & Economics categories.

Using a multivariate filter, we estimate potential growth rates in Chile’s mining and non-mining sectors. Estimates for the mining sector incorporate information on copper prices, whereas estimates for non-mining reflect information on inflation and unemployment rates. To better understand the drivers of potential growth, we decompose estimates into capital, labor (adjusted for human-capital and hours worked), and total-factor productivity using a production-function. Our estimates of potential output in Chile suggest that an important part of the recent growth slowdown has been structural, with potential-output growth slowing to 21⁄2 percent in recent years, although it plausibly could be higher in the medium-term.

Estimating Potential Output In Chile

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Author : Patrick Blagrave
language : en
Publisher: International Monetary Fund
Release Date : 2016-10-14

Potential Output Growth In Emerging Market Countries

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Author : Mr.Jorge Roldos
language : en
Publisher: International Monetary Fund
Release Date : 1997-09-01

Potential Output Growth In Emerging Market Countries written by Mr.Jorge Roldos and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-09-01 with Business & Economics categories.

This paper estimates potential output and the sources of growth in Chile during 1970-96. Actual output is cointegrated with the quality-adjusted measures of capital and labor, and constant returns to scale cannot be rejected. The estimates of potential output show a positive output gap in the years when the Chilean economy was deemed to be overheated. In 1986-90, the quality-adjusted labor variable explains close to 60 percent of the growth rate of GDP, while during 1991-95 capital formation plays a dominant role. The contribution of TFP growth in Chile is relatively small, but, based on a comparison with European and East Asian experiences, it is expected to increase in the medium term.

The Chilean Output Gap

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Author : Leandro Medina
language : en
Publisher: International Monetary Fund
Release Date : 2011-01-01

The Chilean Output Gap written by Leandro Medina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.

This paper estimates the potential output (and the output gap) in Chile using several different methodologies. After a structural brake in 1998, the average growth rate of potential output in Chile declined from over 7 percent to 3-4 percent in the aggregate economy, but to less than 2 percent in the natural resource sector. The contributions to aggregate potential output growth of the natural resource sector and the non-natural resource sector are estimated, finding that the contribution to growth of the natural resource sector is non-linear-increasing during the 1990s, declining during the 2000s, and turning negative in the mid-2000s-despite the monotonic decrease in the share of natural resource output in aggregate output.

Gone With The Headwinds

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Author : Gustavo Adler
language : en
Publisher: International Monetary Fund
Release Date : 2017-04-03

Gone With The Headwinds written by Gustavo Adler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-03 with Business & Economics categories.

Productivity growth—the key driver of living standards—fell sharply following the global financial crisis and has remained sluggish since, adding to a slowdown already in train before. Building on new research, this note finds that the productivity slowdown reflects both crisis legacies and structural headwinds. In advanced economies, the global financial crisis has led to “productivity hysteresis”—persistent productivity losses from a seemingly temporary shock. Behind this are balance sheet vulnerabilities, protracted weak demand and elevated uncertainty, which jointly triggered an adverse feedback loop of weak investment, weak productivity and bleak income prospects. Structural headwinds—already blowing before the crisis—include a waning ICT boom and slowing technology diffusion, partly reflecting an aging workforce, slowing global trade and weaker human capital accumulation. Reviving productivity growth requires addressing remaining crisis legacies in the short run while pressing ahead with structural reforms to tackle longer-term headwinds.

Chile

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-09-29

Chile written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-29 with Business & Economics categories.

Chile’s economy has withstood successfully two consecutive large negative shocks—the global financial crisis and the February 2010 earthquake. The financial system has weathered the crisis well and the cyclical deterioration of credit quality has been moderate. Large-scale private and public reconstruction spending should continue to boost growth. The authorities’ intentions to enhance the supervision of the financial sector, including the planned move toward consolidated supervision of financial conglomerates, are encouraged. The prudential framework is strengthened by adopting a functional approach to regulation and supervision.

Staff Studies For The World Economic Outlook 1997

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1998-01-16

Staff Studies For The World Economic Outlook 1997 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-01-16 with Business & Economics categories.

These studies provide supporting material for the analysis and scenarios in the World Economic Outlook.

Russian Federation

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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-01

Russian Federation written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-01 with Business & Economics categories.

This Selected Issues paper estimates potential output and the output gap in Russia. Estimating potential output in Russia is difficult because its economy is large and complex, in transition, and dependent on oil. First, Russia presents large territorial and sectoral heterogeneity. Second, structural issues are difficult to estimate in transition economies. Third, the energy sector dominates exports and GDP, making Russia vulnerable to large terms of trade shocks. This paper estimates potential output taking into account these challenges and using a variety of methodologies. The results obtained show that the output gap in Russia exhibits high uncertainty.

Chile

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Author :
language : en
Publisher:
Release Date : 2001

Chile written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Chile categories.

Regional Economic Outlook April 2015 Western Hemisphere Department

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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-29

Regional Economic Outlook April 2015 Western Hemisphere Department written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-29 with Business & Economics categories.

The economic outlook for Latin America and the Caribbean remains very challenging. Regional growth is projected to decline for a fifth consecutive year in 2015, dipping below 1 percent. Weakness is concentrated among South America's commodity exporters, where falling global commodity prices have compounded country-specific challenges. Meanwhile, growth is projected to be steady or stronger for most of the Caribbean, Central America, and Mexico, supported by lower oil bills for importers and robust economic recovery in the United States. The analysis in this report examines core challenges facing the region: the impact of lower commodity prices on fiscal and external positions, the drivers of the slowdown in investment, and the role of economic diversification for longer-term growth prospects.

Estimating Potential Output In Chile

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