Potential Output and Output Gap in Central America, Panama and Dominican Republic [electronic resource] / Christian A Johnson.
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TextSeries: IMF Working Papers; Working Paper ; No. 13/145Publication details: Washington, D.C. : International Monetary Fund, 2013Description: 1 online resource (42 p.)ISBN: 1484322207 :ISSN: 1018-5941Subject(s): Business Cycle | GDP Growth | General | Growth Decomposition | Output Gap | Potential Growth | Dominican Republic | El Salvador | PanamaAdditional physical formats: Print Version:: Potential Output and Output Gap in Central America, Panama and Dominican RepublicOnline resources: IMF e-Library | IMF Book Store Abstract: Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries using annual data. Main findings are: i) CAPDR potential growth is about 4.4 percent while output gap volatility is about 1.9 percent; ii) The highest-potential growth country is Panama (6.5 percent) while the lowest-growth country is El Salvador (2.6 percent); iii) CAPDR business cycle is about eigth years.
Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries using annual data. Main findings are: i) CAPDR potential growth is about 4.4 percent while output gap volatility is about 1.9 percent; ii) The highest-potential growth country is Panama (6.5 percent) while the lowest-growth country is El Salvador (2.6 percent); iii) CAPDR business cycle is about eigth years.
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