Abstract
The purpose of this paper is to provide an estimate of the medium term trend growth rate of real GDP for the Greek economy, for the period 2011–2015. The analysis is based on the GDP identity, according to which, real GDP is decomposed into five components, which are labor productivity, hours worked per employee, employment rate, labor force participation rate and population rate. By using the filtering techniques of the HP and Kalman filters, the trend growth rate of GDP is estimated at −1.65% over the five year period, as the sum of the trend growth rates of its individual components.
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