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

• Autorzy: Julianna Csugány , Domicián Máté
• Języki publikacji: EN

Abstrakty

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. (original abstract)

Słowa kluczowe

EN

Demand gap; Accounting; Labour efficiency; Income inequalities

PL

Luka popytowa; Rachunkowość; Wydajność pracy; Nierówności dochodowe

• Czasopismo: Perspectives of Innovations, Economics and Business
• Rocznik: 2012
• Tom: 12
• Numer: nr 3
• Strony: 15--20

Twórcy

autor

Julianna Csugány

• Eszterházy Károly College

autor

Domicián Máté

• University of Debrecen, Hungary

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