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2012 | 12 | 3 | 15-20
Article title

Measuring and decomposing output gap: A production function approach of the USA and EU-27 countries

Content
Title variants
Languages of publication
EN
Abstracts
EN
The ICT-based techno-economic paradigm shift was sharpened by income inequalities in all over the world. The economic performance of USA and Europe were seemed to more different thanks to global economic events. The main purpose of this study is to estimate various macroeconomic variables such as GDP and labour for the period of 1993-2013. In order to indicate economic growth an alternative growth accounting method was used to decompose impacts of physical capital accumulation, technological changes and labour. Analysing the time series data of various OECD countries we could conclude that a large part of the variations in the output gap stem from the cyclical variations of total labour input and the total factor productivity (TFP). Hence, our results were reflected the relevance of technological progress.
Year
Volume
12
Issue
3
Pages
15-20
Physical description
Dates
published
2012-11-23
Contributors
  • Institute of Economics, Eszterházy Károly College, Hungary
  • Prague Development Center, Czech Republic
References
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Document Type
Publication order reference
YADDA identifier
bwmeta1.element.cejsh-0d6e1f80-079a-403e-b69f-f3dce6b6a58c
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