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
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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
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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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
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e-ISSN
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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
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