Politická ekonomie 2001, 49(4) | DOI: 10.18267/j.polek.320

Odhad potenciálního produktu a produkční mezery v České republice

Mojmír Hájek, Vladimír Bezděk

Estimate of potential output and output gap in the Czech Republic

The article describes the estimate of potencial output and output gap in the Czech economy on the macroeconomic level for the period 1991 - 1999 and forecasted years 2000 and 2001. Two methods are used. The first is the application of Hodrick - Prescott filter to yearly and quarterly data of real GDP. The second one is Cobb-Douglas production function with technological progress, using yearly data about real GDP, stock of capital and labour. In the case of production function three variants of

Keywords: production function, potencial output, output gap, Hodrick - Prescott filter, total factor productivity

Published: August 1, 2001  Show citation

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Hájek, M., & Bezděk, V. (2001). Estimate of potential output and output gap in the Czech Republic. Politická ekonomie, 49(4), . doi: 10.18267/j.polek.320
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