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Potential Output and Output Gap in Central America, Panama and Dominican Republic

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 a...

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Bibliographic Details
Main Author: Johnson, Christian
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2013
Series:IMF Working Papers
Subjects:
Potential Output
Output Gap
Economic Development
Cost
Capital And Total Factor Productivity
Production
Industrial Productivity
Total Factor Productivity
Macroeconomics: Production
Economic Growth
Environment And Growth
Macroeconomics
Sustainable Growth
Capacity
Economic Theory
Production Growth
Production And Operations Management
El Salvador
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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520 |a 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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