Trends and Cycles in Labour Productivity in the Major OECD Countries:
This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the cycle...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
1993
|
| Series: | OECD Economics Department Working Papers
|
| Subjects: | |
| Online Access: | Volltext |
| Summary: | This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the cycle is thus interpreted as the total excess growth that one would forecast beyond "normal" rates of productivity (see Evans and Reichlin, 1992). Multivariate trends in productivity were estimated including series that Granger-cause and, possibly, are cointegrated with productivity. The corresponding cycles were compared with those generated by the Hodrick-Prescott filter and with the business-cycle dating of the OECD. The stability and predictive properties of the Beveridge-Nelson and Hodrick-Prescott trends were compared. Finally, the estimated productivity gaps were used as proxies for capacity utilisation in econometric models of price formation in order to assess their empirical ... |
| Physical Description: | 1 Online-Ressource (56 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/215124852050 |
Staff View
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047933940 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s1993 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/215124852050 |2 doi | |
| 035 | |a (ZDB-13-SOC)061286990 | ||
| 035 | |a (OCoLC)1312703908 | ||
| 035 | |a (DE-599)BVBBV047933940 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Nicoletti, Giuseppe |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Trends and Cycles in Labour Productivity in the Major OECD Countries |c Giuseppe Nicoletti and Lucrezia Reichlin |
| 264 | 1 | |a Paris |b OECD Publishing |c 1993 | |
| 300 | |a 1 Online-Ressource (56 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the cycle is thus interpreted as the total excess growth that one would forecast beyond "normal" rates of productivity (see Evans and Reichlin, 1992). Multivariate trends in productivity were estimated including series that Granger-cause and, possibly, are cointegrated with productivity. The corresponding cycles were compared with those generated by the Hodrick-Prescott filter and with the business-cycle dating of the OECD. The stability and predictive properties of the Beveridge-Nelson and Hodrick-Prescott trends were compared. Finally, the estimated productivity gaps were used as proxies for capacity utilisation in econometric models of price formation in order to assess their empirical ... | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Reichlin, Lucrezia |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/215124852050 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033315434 | |
Record in the Search Index
| _version_ | 1818806051143680000 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Nicoletti, Giuseppe |
| author2 | Reichlin, Lucrezia |
| author2_role | ctb |
| author2_variant | l r lr |
| author_facet | Nicoletti, Giuseppe Reichlin, Lucrezia |
| author_role | aut |
| author_sort | Nicoletti, Giuseppe |
| author_variant | g n gn |
| building | Verbundindex |
| bvnumber | BV047933940 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061286990 (OCoLC)1312703908 (DE-599)BVBBV047933940 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/215124852050 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047933940</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s1993 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/215124852050</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061286990</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312703908</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047933940</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Nicoletti, Giuseppe</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Trends and Cycles in Labour Productivity in the Major OECD Countries</subfield><subfield code="c">Giuseppe Nicoletti and Lucrezia Reichlin</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">1993</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (56 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the cycle is thus interpreted as the total excess growth that one would forecast beyond "normal" rates of productivity (see Evans and Reichlin, 1992). Multivariate trends in productivity were estimated including series that Granger-cause and, possibly, are cointegrated with productivity. The corresponding cycles were compared with those generated by the Hodrick-Prescott filter and with the business-cycle dating of the OECD. The stability and predictive properties of the Beveridge-Nelson and Hodrick-Prescott trends were compared. Finally, the estimated productivity gaps were used as proxies for capacity utilisation in econometric models of price formation in order to assess their empirical ...</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Reichlin, Lucrezia</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/215124852050</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033315434</subfield></datafield></record></collection> |
| id | DE-604.BV047933940 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:01Z |
| indexdate | 2024-12-18T19:03:37Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033315434 |
| oclc_num | 1312703908 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (56 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 1993 |
| publishDateSearch | 1993 |
| publishDateSort | 1993 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Nicoletti, Giuseppe Verfasser aut Trends and Cycles in Labour Productivity in the Major OECD Countries Giuseppe Nicoletti and Lucrezia Reichlin Paris OECD Publishing 1993 1 Online-Ressource (56 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the cycle is thus interpreted as the total excess growth that one would forecast beyond "normal" rates of productivity (see Evans and Reichlin, 1992). Multivariate trends in productivity were estimated including series that Granger-cause and, possibly, are cointegrated with productivity. The corresponding cycles were compared with those generated by the Hodrick-Prescott filter and with the business-cycle dating of the OECD. The stability and predictive properties of the Beveridge-Nelson and Hodrick-Prescott trends were compared. Finally, the estimated productivity gaps were used as proxies for capacity utilisation in econometric models of price formation in order to assess their empirical ... Economics Reichlin, Lucrezia ctb https://doi.org/10.1787/215124852050 Verlag kostenfrei Volltext |
| spellingShingle | Nicoletti, Giuseppe Trends and Cycles in Labour Productivity in the Major OECD Countries Economics |
| title | Trends and Cycles in Labour Productivity in the Major OECD Countries |
| title_auth | Trends and Cycles in Labour Productivity in the Major OECD Countries |
| title_exact_search | Trends and Cycles in Labour Productivity in the Major OECD Countries |
| title_exact_search_txtP | Trends and Cycles in Labour Productivity in the Major OECD Countries |
| title_full | Trends and Cycles in Labour Productivity in the Major OECD Countries Giuseppe Nicoletti and Lucrezia Reichlin |
| title_fullStr | Trends and Cycles in Labour Productivity in the Major OECD Countries Giuseppe Nicoletti and Lucrezia Reichlin |
| title_full_unstemmed | Trends and Cycles in Labour Productivity in the Major OECD Countries Giuseppe Nicoletti and Lucrezia Reichlin |
| title_short | Trends and Cycles in Labour Productivity in the Major OECD Countries |
| title_sort | trends and cycles in labour productivity in the major oecd countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/215124852050 |
| work_keys_str_mv | AT nicolettigiuseppe trendsandcyclesinlabourproductivityinthemajoroecdcountries AT reichlinlucrezia trendsandcyclesinlabourproductivityinthemajoroecdcountries |