Dynamic Cobb-Douglas production function as the basis for potential output gap estimation using the Vector Error Correction Model : empirical evidence from Poland in the post-crisis period

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Tytuł
Dynamic Cobb-Douglas production function as the basis for potential output gap estimation using the Vector Error Correction Model
Podtytuł
empirical evidence from Poland in the post-crisis period
Odpowiedzialność
Elżbieta Szaruga
Twórcy
  • Szaruga Elżbieta ( Autor ) 5.1
    Afiliacja, Pracownik naukowy :
    Instytut Zarządzania
Punktacja publikacji
Osoba Dysc. Pc k m P U Pu Opis
0000-0001-6205-1311 5.1 70 1 1 70,00 1,0000 70,0000 aut. roz., konferencja z listy
Gł. język publikacji
Angielski (English)
Data publikacji
2021
Objętość
2,02 (arkuszy wydawniczych), 28 (stron).
Adres URL
https://ibima.org/accepted-paper/dynamic-cobb-douglas-production-function-as-the-basis-for-potential-output-gap-estimation-using-the-vector-error-correction-model-empirical-evidence-from-poland-in-the-post-crisis-period/
Uwaga ogólna
Publikacja z : 37th International Business Information Management Association Conference (IBIMA), 30-31 May 2021, Cordoba, Spain.
Finansowanie
The project is financed within the framework of the program of the Minister of Science and Higher Education under the name "Regional Excellence Initiative" in the years 2019 - 2022. 001/RID/2018/19
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Dane konferencji
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Słowa kluczowe
Dokument źródłowy
Innovation management and information technology impact on global economy in the era of pandemic : proceedings of the 37th International Business Information Management Association Conference (IBIMA), 30-31 May 2021, Cordoba, Spain / editor Khalid S. Soliman.. - King of Prussia : International Business Information Management Association, 2021
Strony: 10684-10711
Seria: Proceedings of the ... International Business Information Management Association Conference 2767-9640 ;
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BibTeX, RIS
Data zgłoszenia do bazy Publi
2021-06-28
PBN
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WorkId
27309

Abstrakt

en

The research problem was formulated as a question: what are the sources of the potential output gap and which of them can be used to bring the economy to the optimal state most quickly. The research objective is to identify the sources of the potential output gap, assess their impact and assess the mechanism of adjustments to the equilibrium level. The spatial scope refers to Poland and the period - 2008:Q1-2016:Q1 (the time perspective covers the period from the global economic crisis 2008+ and ends before the Family 500+ program - stimulating internal demand). The methodology consists of two stages. The first stage concerns the estimation of the potential output gap using Hodrick-Prescott filtration. The second method is based on the dynamic Cobb-Douglas function (and the Vector Error Correction Model). The potential output gap, cleared of seasonality and shocks, ranges from -1.2% to + 2.9%. The potential output gap, cleared only of seasonality, ranges from -1.7% to + 3.4%. Thus, the shocks deepen the amplitudes of the potential output gaps. The potential output gap depending on its main sources, cleared of seasonality, estimated taking into account technological progress, capital expenditure and labour inputs, ranges from -3% to + 2.2% and has an extended sequence for the positive side. Probably because it takes into account hidden qualitative changes in dynamically changing economic categories, i.e. technological progress, labour input or capital expenditure. Capital expenditure is the area of the fastest improvement of the economy to the optimal state

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