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Trend Growth

In: Microeconomic Reform in Britain

Author

Listed:
  • Ed Balls
  • Joe Grice
  • Gus O’Donnell

Abstract

This chapter provides an explanation of overall economic performance which illustrates why microeconomic reforms have concentrated to a large extent on improving productivity and the labour market. It sets out the basic concepts related to trend output growth and its applications in economic analysis and policy-making, explains how trend growth is defined and estimated using different methods, and gives an analysis of the decomposition of trend growth and projection of its components.

Suggested Citation

  • Ed Balls & Joe Grice & Gus O’Donnell, 2004. "Trend Growth," Palgrave Macmillan Books, in: Ed Balls & Joe Grice & Gus O’Donnell (ed.), Microeconomic Reform in Britain, chapter 3, pages 44-64, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51833-9_4
    DOI: 10.1057/9780230518339_4
    as

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