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Journals / Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi / 2014 / Cilt: 9 - Sayı: 2

Are Real Output Fluctuations Transitory or Permanent? A Panel Data Analysis for OECD Countries

Reel Çıktıdaki Dalgalanmalar Geçici mi yoksa Kalıcı mı? OECD Ülkeleri için Bir Panel Veri Analizi

Ethem esen
Pages
7–24
Publication Date
2014-11-02
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

These findings imply that GDP fluctu‐ations in OECD countries are overall transitory.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:According to the Classical view of business cycle, fluctuations in real output represent temporary deviations from trend.
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Key Findings & Data:For this purpose three panel unit root tests advocated by Choi (2001), Demetrescu et al. (2006), and Constantini and Lupi (2013) are applied to per capita real GDP data for 27 OECD countries over the period 1975 to 2012.
💡
Conclusion & Impact:These findings imply that GDP fluctu‐ations in OECD countries are overall transitory.
🔬Design:Research Article
📍Scope:2001 Verileri
⚙️Variables:Kişi Başına Reel GSYH · Panel Birim Kök Testleri · Makroekonomik Politika.

Abstract

According to the Classical view of business cycle, fluctuations in real output represent temporary deviations from trend. The aim of this paper is to examine whether output fluctuations are transi‐tory or permanent in OECD countries. For this purpose three panel unit root tests advocated by Choi (2001), Demetrescu et al. (2006), and Constantini and Lupi (2013) are applied to per capita real GDP data for 27 OECD countries over the period 1975 to 2012. The empirical results from panel unit roots tests indicate that per capita real GDP for the entire countries are stationary. These findings imply that GDP fluctu‐ations in OECD countries are overall transitory.

Özet

Konjonktür dalgalanmalarının klasik görüşüne göre, reel çıktıdaki dalgalanmalar trendden geçici sapmalardır. Bu çalışmanın amacı, OECD ülkelerindeki çıktı dalgalanmalarının geçici mi yoksa kalıcı mı olduğunu incelemektir. Bu amaçla, 1975’den 2012’ye kadar olan dönem için Choi (2001), Demetrescu vd. (2006) ve Constantini ve Lupi (2013) tarafından savunulan panel birim kök testleri, 27 OECD ülkesinin kişi başına reel GSYH verisine uygulanmıştır. Panel birim kök testlerin‐den elde edilen ampirik sonuçlar, ülkelerin geneli için kişi başına reel GSYH’nin durağan olduğunu işaret etmektedir. Bu bulgular, OECD ülkelerin‐deki GSYH dalgalanmalarının geçici olduğunu ifade etmektedir.

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Cite This Article

esen, E. (2014). Are Real Output Fluctuations Transitory or Permanent? A Panel Data Analysis for OECD Countries. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 9 - Sayı: 2, 7–24. https://ajindex.com/articles/30588

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