IMF Estimates of Potential Output: Theory and Practice
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
The concepts of potential output and the output gap are central to the IMF’s analytical work in providing policy recommendations to member governments. This key role has stimulated research at the IMF to develop and refine estimation techniques. This paper summarizes the methodology and results of IMF research on potential output, which has focused mainly on the industrial countries but more recently has addressed issues related to developing countries and countries in transition. It then discusses the approaches that country desk officers use for operational purposes, and presents estimates of potential output for the major industrial countries.
Series:
Working Paper No. 1997/177
Subject:
Labor Output gap Potential output Production Production growth Total factor productivity
English
Publication Date:
December 1, 1997
ISBN/ISSN:
9781451974980/1018-5941
Stock No:
WPIEA1771997
Pages:
14
Please address any questions about this title to publications@imf.org