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Record Nr. |
UNINA9910154898803321 |
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Autore |
Blagrave Patrick |
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Titolo |
Estimating Potential Output in Chile : : A Multivariate Filter for Mining and Non-Mining Sectors / / Patrick Blagrave, Marika Santoro |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2016 |
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ISBN |
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9781475544930 |
1475544936 |
9781475544961 |
1475544960 |
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Descrizione fisica |
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1 online resource (33 pages) : illustrations, tables |
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Collana |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Economic indicators - Chile |
Economic development - Chile |
Mineral industries - Chile - Econometric models |
Macroeconomics |
Natural Resource Extraction |
Production and Operations Management |
Model Construction and Estimation |
Price Level |
Inflation |
Deflation |
Monetary Policy |
Macroeconomics: Production |
Industry Studies: Primary Products and Construction: General |
Metals and Metal Products |
Cement |
Glass |
Ceramics |
Production |
Cost |
Capital and Total Factor Productivity |
Capacity |
Extractive industries |
Potential output |
Mining sector |
Output gap |
Metal prices |
Total factor productivity |
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Economic sectors |
Prices |
Economic theory |
Mineral industries |
Metals |
Industrial productivity |
Chile |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Nota di bibliografia |
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Includes bibliographical references. |
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Sommario/riassunto |
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Using a multivariate filter, we estimate potential growth rates in Chile’s mining and non-mining sectors. Estimates for the mining sector incorporate information on copper prices, whereas estimates for non-mining reflect information on inflation and unemployment rates. To better understand the drivers of potential growth, we decompose estimates into capital, labor (adjusted for human-capital and hours worked), and total-factor productivity using a production-function. Our estimates of potential output in Chile suggest that an important part of the recent growth slowdown has been structural, with potential-output growth slowing to 2½ percent in recent years, although it plausibly could be higher in the medium-term. |
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