An estimate of the output gap of Argentina
The potential product plays an essential role in the design and evaluation of an economic policy, and although the results obtained through the management of monetary and fiscal policy depend to a large extent on having reliable estimates, there is no consensus on the methodology of most appropriate...
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| Format: | Online |
| Language: | spa |
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Facultad de Ciencias Económicas. Instituto de Economía y Finanzas
2006
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| Online Access: | https://revistas.unc.edu.ar/index.php/acteconomica/article/view/4024 |
| _version_ | 1811172171322490880 |
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| author | Rodriguez, José María |
| author_facet | Rodriguez, José María |
| author_sort | Rodriguez, José María |
| collection | Portal de Revistas |
| description | The potential product plays an essential role in the design and evaluation of an economic policy, and although the results obtained through the management of monetary and fiscal policy depend to a large extent on having reliable estimates, there is no consensus on the methodology of most appropriate estimate. This paper intends to contribute to this discussion for the Argentine case, making an estimate of the potential product through the structural method of the production function, considering two productive factors, labor and capital, combined through a Cobb-Douglas technology. The estimate is made using the VECM approach, and the estimated potential product is applied to the calculation of the output gap for Argentina. |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-4024 |
| institution | Universidad Nacional de Cordoba |
| language | spa |
| publishDate | 2006 |
| publisher | Facultad de Ciencias Económicas. Instituto de Economía y Finanzas |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-40242024-08-09T19:55:15Z An estimate of the output gap of Argentina Una estimación de la brecha del producto de Argentina Rodriguez, José María Potential product Argentina estimates VECM approach O40 Producto potencial Argentina estimaciones enfoque VECM O40 The potential product plays an essential role in the design and evaluation of an economic policy, and although the results obtained through the management of monetary and fiscal policy depend to a large extent on having reliable estimates, there is no consensus on the methodology of most appropriate estimate. This paper intends to contribute to this discussion for the Argentine case, making an estimate of the potential product through the structural method of the production function, considering two productive factors, labor and capital, combined through a Cobb-Douglas technology. The estimate is made using the VECM approach, and the estimated potential product is applied to the calculation of the output gap for Argentina. El producto potencial juega un rol esencial en el diseño y evaluación de una política económica, y si bien los resultados obtenidos mediante el manejo de la política monetaria y fiscal dependen en gran medida de contar con estimaciones confiables, no existe un consenso acerca de la metodología de estimación más apropiada. Este trabajo pretende contribuir a esta discusión para el caso argentino, realizando una estimación del producto potencial mediante el método estructural de la función de producción, considerando dos factores productivos, el trabajo y el capital, combinados a través de una tecnología Cobb-Douglas. La estimación se realiza utilizando el enfoque de los VECM, y al producto potencial estimado se lo aplica al cálculo de la brecha del producto para Argentina. Facultad de Ciencias Económicas. Instituto de Economía y Finanzas 2006-08-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Articles Artículos application/pdf https://revistas.unc.edu.ar/index.php/acteconomica/article/view/4024 Actualidad Económica; Vol. 16 No. 59 (2006): May-August Actualidad Económica; Vol. 16 Núm. 59 (2006): Mayo-Agosto 2250-754X 0327-585X spa https://revistas.unc.edu.ar/index.php/acteconomica/article/view/4024/3851 https://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | Potential product Argentina estimates VECM approach O40 Producto potencial Argentina estimaciones enfoque VECM O40 Rodriguez, José María An estimate of the output gap of Argentina |
| title | An estimate of the output gap of Argentina |
| title_alt | Una estimación de la brecha del producto de Argentina |
| title_full | An estimate of the output gap of Argentina |
| title_fullStr | An estimate of the output gap of Argentina |
| title_full_unstemmed | An estimate of the output gap of Argentina |
| title_short | An estimate of the output gap of Argentina |
| title_sort | estimate of the output gap of argentina |
| topic | Potential product Argentina estimates VECM approach O40 Producto potencial Argentina estimaciones enfoque VECM O40 |
| topic_facet | Potential product Argentina estimates VECM approach O40 Producto potencial Argentina estimaciones enfoque VECM O40 |
| url | https://revistas.unc.edu.ar/index.php/acteconomica/article/view/4024 |
| work_keys_str_mv | AT rodriguezjosemaria anestimateoftheoutputgapofargentina AT rodriguezjosemaria unaestimaciondelabrechadelproductodeargentina AT rodriguezjosemaria estimateoftheoutputgapofargentina |