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BOFIT calculations (primarily based on Kerola (2019)) point out a slower tempo of progress than formally reported. Yr-on-Yr, the easy common of different calculations is lower than 4%, in comparison with the 4.9% formally reported (which is on the high quality of progress charges from the choice calculations).
Supply: BOFIT.
Curiously, the Q2 hole just isn’t as giant as that reported by Fernald et al. as mentioned on this put up: 3.9% vs. 6.3%. The Fernald et al. strategy locations larger weight on commerce knowledge than does the assorted approaches adopted by Kerola (2019), so there is no such thing as a explicit motive for the estimates to match.
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