Boom or Gloom? Examining the Dutch Disease in Two-Speed Economies
Traditional studies of the Dutch disease do not account for productivity spillovers between the booming resource sector and other domestic sectors. We put forward a simple theory model that allows for such spillovers. We then identify and quantify these spillovers using a Bayesian Dynamic Factor Model (BDFM). The model allows for resource movements and spending effects through a large panel of variables at the sectoral level, while also identifying disturbances to the commodity price, global demand and non-resource activity. Using Australia and Norway as representative cases studies, we find t... Mehr ...
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Dokumenttyp: | doc-type:workingPaper |
Erscheinungsdatum: | 2014 |
Verlag/Hrsg.: |
Oslo: Norges Bank
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Schlagwörter: | ddc:330 / C32 / E32 / F41 / Q33 / BDFM / Bayesian dynamic factor model / Dutch disease / resource boom / commodity prices / learning by doing / two-speed economy |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-26688787 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://hdl.handle.net/10419/210061 |