Business cycle and level accounting: the case of Portugal
In: Portuguese economic journal, Band 6, Heft 1, S. 47-64
ISSN: 1617-9838
7 Ergebnisse
Sortierung:
In: Portuguese economic journal, Band 6, Heft 1, S. 47-64
ISSN: 1617-9838
This paper studies what accounts for the recent business cycles phenomena in Portugal and why it is depressed relatively to the United States. The business accounting procedure applied here suggests that most of the changes in output per worker in Portugal over the period (mainly, from 1979 to 1991) can be attributed to changes in economic effi ciency. For instance, the strong economic recovery in output per worker just after Portugal joined the European Union until the first years of the 1990s can be essentially attributed to improvements in economic effi ciency. From 1979 to 2000, Portugal caught up with the industrial leader. Its output per worker is currently depressed by about 46% relative to the United States level (it was depressed by 57% in 1979). In the 1980s all of this depression in output per worker relative to the United States was due to the productivity factor. By 2000 Portugal depression relative to the United States was a mix of the French and Japanese depression. The labor factor accounted for roughly 24% of this depression, while the economic effi ciency accounted by about 89%. ; info:eu-repo/semantics/publishedVersion
BASE
In: Discussion paper series 6477
In: Public policy
In: The economic journal: the journal of the Royal Economic Society, Band 127, Heft 603, S. 1279-1317
ISSN: 1468-0297
In: The quarterly review of economics and finance, Band 43, Heft 4, S. 627-642
ISSN: 1062-9769
In: The quarterly review of economics and finance, Band 48, Heft 2, S. 412-432
ISSN: 1062-9769
In: The quarterly review of economics and finance, Band 51, Heft 4, S. 305-318
ISSN: 1062-9769