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Author/Editor:
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Epstein, Natan ; Macchiarelli, Corrado
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Publication Date:
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January 01, 2010
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Electronic Access:
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Free Full text
(PDF file size is 950KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
The paper develops a methodology based on the production-function approach to estimate potential output of the Polish economy. The paper concentrates on obtaining a robust estimate of the labor input by deriving Poland's natural rate of unemployment. The estimated unemployment gap is found to track well pressures on resource constraints. Moreover, the overall results show that, prior to the recent global financial crisis, Poland's output and employment were both growing above potential. The production function is also used to derive medium-term projections of the output gap. According to our methodology, in the aftermath of the global crisis, Poland is not expected to experience a sizable and persistent negative output gap.
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Order a print copy
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Series:
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Working Paper No. 10/15
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Subject(s):
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Economic models | Employment | Production growth | Productivity | Unemployment
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Author's Keyword(s):
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Production function | potential growth | output gap | NAIRU. |
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English
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Publication Date:
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January 01, 2010
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ISBN/ISSN:
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9781451962093
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Format:
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Paper
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Stock No:
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WPIEA2010015
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Pages:
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12
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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