Potential GDP Growth in Venezuela is popular PDF and ePub book, written by Mario A. Cuevas in 2002, it is a fantastic choice for those who relish reading online the Business cycles genre. Let's immerse ourselves in this engaging Business cycles book by exploring the summary and details provided below. Remember, Potential GDP Growth in Venezuela can be Read Online from any device for your convenience.
Potential GDP Growth in Venezuela Book PDF Summary
Abstract: Real GDP and oil prices are decomposed into common stochastic trend and cycle processes using structural time series models. Potential real GDP is represented by the level of the trend component of real GDP. The potential rate of growth of real GDP is represented by the stochastic drift element of the trend component. Cuevas finds that there is a strong association at the trend and cycle frequencies between real GDP and the real price of oil. This association is also robust in the presence of key economic policy variables. From 1970-80, when the underlying annual rate of increase of the real price of oil was 12 percent, the underlying annual rate of increase of potential GDP in Venezuela was 2.6 percent. By contrast, from 1981-2000 when the underlying rate of increase of the real price of oil was -5 percent, the underlying growth rate of potential GDP fell 1.5 percent. However, the strength of association between the underlying growth of oil prices and real GDP has fallen considerably since the early 1980s, suggesting that oil cannot be relied on as an engine for future growth in Venezuela. This paper"a product of the Colombia, Mexico, and Venezuela Country Management Unit, Latin America and the Caribbean Region"is part of a larger effort in the region to encourage research on macroeconomic issues. The author may be contacted at mcuevas@@worldbank.org.
Detail Book of Potential GDP Growth in Venezuela PDF
- Author : Mario A. Cuevas
- Release : 20 September 2024
- Publisher : World Bank Publications
- ISBN : 978186723xxxx
- Genre : Business cycles
- Total Page : 28 pages
- Language : English
- PDF File Size : 11,7 Mb
If you're still pondering over how to secure a PDF or EPUB version of the book Potential GDP Growth in Venezuela by Mario A. Cuevas, don't worry! All you have to do is click the 'Get Book' buttons below to kick off your Download or Read Online journey. Just a friendly reminder: we don't upload or host the files ourselves.