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Probing GDP, employment and unemployment: A Little Forensic Macroeconomics

Philippine Review of Economics

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Title Probing GDP, employment and unemployment: A Little Forensic Macroeconomics
 
Creator Canlas, Dante B.; University of the Philippines School of Economics
 
Subject national income accounts; employment; unemployment; labor force
 
Description The paper examines the behavior of the growth rates of real GDP, employment and unemployment in the recent past decade and a half based on the estimates of levels taken from the National Income and Product Accounts (NIA) and the Labor Force Surveys (LFS). Real GDP per worker exhibits extreme volatility and seems to deviate from its expected pro-cyclical nature. When linked to the monetary accounts, real per capita GDP suggests a surprisingly low elasticity of money demand with respect to real GDP. Moreover, the recently revised method for determining the employed and unemployed in the labor force tends to exclude a significant number of the working age population from the labor force. The findings suggest revisiting the estimation procedures with the end in view of improving the accuracy of the NIA and the LFS. JEL classification: E01, E24
 
Publisher Philippine Review of Economics
 
Contributor —
 
Date 2005-06-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/186
 
Source Philippine Review of Economics; Vol 42, No 1 (2005)
1655-1516
 
Language eng
 
Relation http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/186/596
 
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