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Assessing the supply of the Maltese economy using a production function approach

Author

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  • Grech, Aaron George
  • Micallef, Brian

Abstract

After outlining the various methods used to estimate potential output, this article presents estimates for Malta derived from one of the most commonly used methods, i.e. the production function approach. Given the uncertainty surrounding these kinds of estimates, they are compared with those made for Malta by other institutions using different methods. Based on this analysis and on a cross-country comparison, a number of policy recommendations and final observations are made.

Suggested Citation

  • Grech, Aaron George & Micallef, Brian, 2014. "Assessing the supply of the Maltese economy using a production function approach," MPRA Paper 53882, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:53882
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    File URL: https://mpra.ub.uni-muenchen.de/53882/1/MPRA_paper_53882.pdf
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    References listed on IDEAS

    as
    1. Grech, Aaron George, 2004. "Estimating the output gap for the Maltese economy," MPRA Paper 33663, University Library of Munich, Germany.
    2. Grech, Aaron George, 2013. "Adapting the Hodrick-Prescott Filter for Very Small Open Economies," MPRA Paper 48803, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Brian Micallef, 2017. "Empirical Estimates of Okun¡¯s Law in Malta," Applied Economics and Finance, Redfame publishing, vol. 4(1), pages 138-148, January.
    2. Aaron G. Grech, "undated". "An estimate of the possible impact of lower electricity and water tariffs on the Maltese economy," CBM Working Papers WP/01/2014, Central Bank of Malta.
    3. Aaron G Grech, "undated". "The evolution of the Maltese economy since independence," CBM Working Papers WP/05/2015, Central Bank of Malta.
    4. Brian Micallef, 2017. "A Sectoral Supply-Side Model to Assess the Impact of Labour Market Reforms in Malta," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(4), pages 105-118, April.
    5. Brian Micallef, 2018. "Estimating the Impact of Structural Reforms to Increase the Female Participation Rate in Malta," International Journal of Social Science Studies, Redfame publishing, vol. 6(8), pages 73-84, August.

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    1. Aaron G. Grech (ed.), 2015. "The evolution of the Maltese Economy since Independence," CBM Ebooks, Central Bank of Malta, edition 1, number 02.
    2. Aaron G Grech, "undated". "The evolution of the Maltese economy since independence," CBM Working Papers WP/05/2015, Central Bank of Malta.
    3. Aaron G. Grech, "undated". "Investigating potential output using the Hodrick-Prescott filter: an application for Malta," CBM Working Papers WP/02/2014, Central Bank of Malta.
    4. Grech, Aaron George, 2015. "Structural changes in the Maltese cconomy," MPRA Paper 63632, University Library of Munich, Germany.

    More about this item

    Keywords

    potential output; production function; output gap; business cycle; Malta;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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