Potential Output, Output Gap and Great Recession in the Eurozone
| Název práce v češtině: | Potential Output, Output Gap and Great Recession in the Eurozone |
|---|---|
| Název v anglickém jazyce: | Potential Output, Output Gap and Great Recession in the Eurozone |
| Akademický rok vypsání: | 2013/2014 |
| Typ práce: | diplomová práce |
| Jazyk práce: | angličtina |
| Ústav: | Institut ekonomických studií (23-IES) |
| Vedoucí / školitel: | PhDr. Jaromír Baxa, Ph.D. |
| Řešitel: | skrytý - zadáno vedoucím/školitelem |
| Datum přihlášení: | 14.06.2014 |
| Datum zadání: | 14.06.2014 |
| Datum a čas obhajoby: | 23.09.2015 00:00 |
| Místo konání obhajoby: | IES |
| Datum odevzdání elektronické podoby: | 20.07.2015 |
| Datum proběhlé obhajoby: | 23.09.2015 |
| Oponenti: | prof. Ing. Evžen Kočenda, M.A., Ph.D., DSc. |
| Kontrola URKUND: | |
| Zásady pro vypracování |
| The dynamics and development of output gap in the context of Great Recession is of great importance. The potential success of stabilization policies largely depends on its correct evaluation. It is also vital to re-estimate the gap between real and potential output in time in order to inquire possibilities of several risks, such as inflation risk.
There is currently much discussion on how large the output gap in euro area is, most concerns placed on labor market and wages. We would like to provide comprehensive study on this topic and examine in detail, possibly by decomposition of area into states, the major changes which could change the potential output after crisis. Also, the added value would come from the fact that we want to use the most current data. Therefore, through comprehensiveness and recency, findings of this work could add some value into the discussion. |
| Seznam odborné literatury |
| Fernald, J., 2012. Productivity and Potential Output before, during, and after the Great Recession. Federal Reserve Bank of San Francisco, WP 2012-18
Giorno, C., Richardson, P., Deborah R. and van den Noord, P., 1995. Potential Output, Output Gaps and Structural Budget Balances. OECD Economic Studies, No. 24, 1995/1, pp. 168-209 O’Mahony, M. And Timmer, Marcel P., 2009. Output, Input and Productivity Measures at the Industry Level: The EU KLEMS Database. The Economic Journal, 119 (June), F374-F403 Proietti, T., Musso, A. and Westermann, T., 2007. Estimating Potential Output and Output Gap for the Euro Area: A Model-Based Production Function Approach. Empirical Economics, (2007) 33: 85-113 Cerra, V. And Saxena, Sweta C., 2000, Alternative Methods of Estimating Potential Output and the Output Gap: An Application to Sweden. International Monetary Fund, WP/00/59 |
| Předběžná náplň práce |
| 1. Introduction
2. Literature Review 3. Metodology 4. Potential Output in Eurozone – Issues and Estimation 4.1. Before the Crisis 4.2. During the Crisis 4.3. After the Crisis 4.4. Future Projection 5. Conclusions |