A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries /

A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries /

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Bibliographic Details
Author / Creator:	Podpiera, Jiří, 1976- author.
Imprint:	Washington, D.C. : International Monetary Fund, 2017.
Description:	1 online resource (38 pages)
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/17/37 IMF working paper ; WP/17/37.
Subject:	Economic history. Europe, Central -- Economic conditions -- 1989- Europe, Eastern -- Economic conditions -- 1989- Balkan Peninsula -- Economic conditions. Balkan Peninsula. Central Europe. Eastern Europe.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/11705075

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Other authors / contributors:	Raei, Faezeh, author. Stepanyan, Ara, author.
ISBN:	9781475584592 1475584598 1475584598 1475578989 9781475578980
Notes:	Print version record.
Summary:	Was the postcrisis growth slowdown in Central, Eastern and Southeastern Europe (CESEE) structural or cyclical? We use three different methods-production function approach, basic multivariate filter, and multivariate filter with financial frictions-to evaluate potential growth and output gaps for 18 CESEE countries during 2000-15. Our findings suggest that potential growth weakened significantly after the crisis across most countries in the region. This decline appears to be largely due to stagnant productivity and weaker capital accumulation, which were associated with common external factors, including trading partners' slow potential growth, but also decline in global trade and stalled expansion of global value chains. Our estimates suggest that output gaps in 2015 were largely closed in many countries in the region.
Other form:	Print version: Podpiera, Jiri. A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries. Washington, D.C. : International Monetary Fund, ©2017 9781475578980
Standard no.:	10.5089/9781475578980.001

Description
Summary:	Was the postcrisis growth slowdown in Central, Eastern and Southeastern Europe (CESEE) structural or cyclical? We use three different methods--production function approach, basic multivariate filter, and multivariate filter with financial frictions--to evaluate potential growth and output gaps for 18 CESEE countries during 2000-15. Our findings suggest that potential growth weakened significantly after the crisis across most countries in the region. This decline appears to be largely due to stagnant productivity and weaker capital accumulation, which were associated with common external factors, including trading partners' slow potential growth, but also decline in global trade and stalled expansion of global value chains. Our estimates suggest that output gaps in 2015 were largely closed in many countries in the region.
Physical Description:	1 online resource (38 pages)
ISBN:	9781475584592 1475584598 1475578989 9781475578980
ISSN:	1018-5941 ;