Producto Potencial y Brecha del Producto en Argentina (1950-2022)
Abstract
The potential output plays an essential role in the design and evaluation of macroeconomic policy. Although the results obtained through the fiscal and monetary policy will depend on reliable potential output estimates, there is no consensus about the best methodology of estimation. In this work, the potential product is obtained by the structural method of the production function with two productive factors, capital and labor, combined in a Cobb-Douglas technology. The estimate is made using the VECM approach, and the potential output is applied to obtain the output gap in Argentina.
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