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Estimation of the Output Gap in Czech Agriculture

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F20%3A84636" target="_blank" >RIV/60460709:41110/20:84636 - isvavai.cz</a>

  • Result on the web

    <a href="https://ap.pef.czu.cz/en/r-12193-conference-proceedings" target="_blank" >https://ap.pef.czu.cz/en/r-12193-conference-proceedings</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Estimation of the Output Gap in Czech Agriculture

  • Original language description

    Potential output represents maximum sustainable level of output that the economy can produce. Although output gap is usually measured for the whole economy, we are able to break down the economy and estimate output gap for any given sector (we focus on Czech agriculture exclusively). We followed methodology of Czech National Bank (Hájek and Bezděk, 2010) and Plašil (2011): the former focuses on Cobb-Douglas production function and Hodrick-Prescott filter for detrending of total-factor productivity. The latter is maximum entropy bootstrapping technique which is particularly useful because beside point estimate we are able to get confidence intervals as well. The results show that total-factor productivity is steadily increasing in Czech agriculture. Actual output is also steadily increasing since 2010 mainly due to higher capital stock. We conclude that potential output is ranging between 56 to 76 billion CZK and as of 2018 actual output is around its potential. If the actual output surpasses its pote

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    50202 - Applied Economics, Econometrics

Result continuities

  • Project

  • Continuities

    S - Specificky vyzkum na vysokych skolach

Others

  • Publication year

    2020

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    AGRARIAN PERSPECTIVES XXIX. TRENDS AND CHALLENGES OF AGRARIAN SECTOR - PROCEEDINGS of the 29 th International Scientific Conference

  • ISBN

    978-80-213-3041-2

  • ISSN

  • e-ISSN

  • Number of pages

    7

  • Pages from-to

    134-140

  • Publisher name

    Czech University of Life Sciences Prague

  • Place of publication

    Czech University of Life Sciences Prague

  • Event location

    Czech University of Life Sciences Prague

  • Event date

    Sep 16, 2020

  • Type of event by nationality

    WRD - Celosvětová akce

  • UT code for WoS article