A state-space model to estimate potential growth in the industrialized countries

Thomas Brand, Gilles Dufrénot, and Antoine Mayerowitz

This paper proposes new estimates of potential growth for 5 major industrialized countries. We use a state-space approach to obtain joint estimates of potential growth and the natural interest rates. The model is a reduced-form of a partial equilibrium model with a Phillips curve and an IS curve. In addition to the usual determinants of prices and business fluctuations, we consider financial variables as a determinant of the business cycle.

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Year of publication:	2021
Authors:	Brand, Thomas ; Dufrénot, Gilles ; Mayerowitz, Antoine
Published in:	Recent econometric techniques for macroeconomic and financial data. - Cham, Switzerland : Springer, ISBN 978-3-030-54251-1. - 2021, p. 61-77
Subject:	Industrialized countries \| Long-memory \| Potential growth \| State-space models \| Industrieländer \| Wirtschaftswachstum \| Economic growth \| Produktionspotenzial \| Potential output \| Zustandsraummodell \| State space model \| Produktivität \| Productivity \| Schätztheorie \| Estimation theory \| Schätzung \| Estimation

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz im Buch ; Book section
Language:	English
Other identifiers:	10.1007/978-3-030-54252-8_3 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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