tag:blogger.com,1999:blog-3120478448417742445.post8899089902317170427..comments2024-03-24T06:35:14.281+00:00Comments on The Portuguese Economy: The Lost Decade through Pessoa’s bespectacled eyesEditorhttp://www.blogger.com/profile/16779405217168307855noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3120478448417742445.post-4197501086981924682023-09-26T16:53:59.504+01:002023-09-26T16:53:59.504+01:00 In one of many interesting exercises, the autho... In one of many interesting exercises, the authors kindly ask Pessoa to go through the following thought experiment: what would happen if, starting in 1999, the Portuguese economy went through ten years of abnormally low productivity? Gloomy Pessoa answers with a graph:<br />rohan_herehttps://www.blogger.com/profile/10896649947933087785noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-65853681909159970722020-10-20T07:31:51.974+01:002020-10-20T07:31:51.974+01:00Need a Debt Loan To Pay Off Bills?
Take control of...Need a Debt Loan To Pay Off Bills?<br />Take control of your debt today<br />Available Now Business Expansion Loan Offer?<br />Do you need a loan to pay off Bills?<br />Do you need a loan?<br />Do you need Personal Loan?<br />Business Expansion Loan?<br />Business Start-up, Education,<br />Debt Consolidation Loan<br />Hard Money Loans<br />Loan for any thing ?<br />We offer loan at low interest rate of 3%<br />Loan with no credit check,<br />Email us: financialserviceoffer876@gmail.com<br />Call or add us on what's app +918929509036financialserviceofferhttps://www.blogger.com/profile/11310134613292993835noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-63919256946854464032010-03-09T18:17:01.072+00:002010-03-09T18:17:01.072+00:00Hi JP,
The authors run the latter experiment you ...Hi JP,<br /><br />The authors run the latter experiment you describe. Still, they (and me) think that 12% fall in output and consumption relative to 98 trend is a bit harsh. And like you suggest, they show that the easing of credit constraints and the early 2000s fiscal expansion could do the trick. The problem is that those mitigating effects are now largely gone. So either we go back to trend very soon or the relevant scenario starts being a permanent productivity loss. Check Chapter 2 of the first link above (large PDF) for more info or the second link for all the gory details of the model.Vasco M Carvalhohttps://www.blogger.com/profile/09957033538755158679noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-60848507409603474292010-03-09T17:31:22.897+00:002010-03-09T17:31:22.897+00:00The experiment was based on an actual decrease of ...The experiment was based on an actual decrease of prodcutivity or from a decrease in the growth of productivity below the trend ? <br />If it is the latter I think the model could explain quite well what has happened. Just add a positive financial shock and I guess we'll get something quite similar to what has happened since the mid 90's.João Pedro Santoshttps://www.blogger.com/profile/00730175916006873042noreply@blogger.com