?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fpure.iiasa.ac.at%2Fid%2Feprint%2F4159%2F&rft.title=Can+We+Delineate+Potential+Output+for+an+Economy+in+Transition%3F+Search+for+a+Benchmark&rft.creator=Barta%2C+V.&rft.description=This+paper+was+stimulated+by+a+striking+discrepancy+which+exists+between+the+frequency+with+which+the+concept+of+potential+output+is+dealt+with+in+every+basic+macroeconomic+textbook+and+nearly+complete+absence+of+any+comprehension+of+what+might+have+happened+to+potential+output+in+economies+in+transition.+Although+the+search+for+this+macroeconomic+pivotal+point+may+look+like+solving+an+intellectual+puzzle%2C+the+real+challenge+lies+in+implications+of+changes+in+potential+output+for+effective+policy-making+during+the+transformation+period.+This+paper+points+out+some+weaknesses+of+applying+standard+macroeconomic+concepts+(like+Okun's+law)+and+illuminates+the+necessity+of+using+indirect+and+mezzo-economic+approaches.+Despite+the+difficulty+of+making+a+new+definition+of+potential+output+operational%2C+this+paper+suggests+the+usefulness+of+introducing+a+kind+of+transformation+bridge+which+should+methodologically+facilitate+understanding+the+concept+of+potential+output+when+moving+from+a+centrally+planned+economy+to+a+market+one.&rft.publisher=WP-94-051&rft.date=1994-06&rft.type=Monograph&rft.type=NonPeerReviewed&rft.format=text&rft.language=en&rft.identifier=https%3A%2F%2Fpure.iiasa.ac.at%2Fid%2Feprint%2F4159%2F1%2FWP-94-051.pdf&rft.identifier=++Barta%2C+V.+%3Chttps%3A%2F%2Fpure.iiasa.ac.at%2Fview%2Fiiasa%2F1707.html%3E++(1994).++Can+We+Delineate+Potential+Output+for+an+Economy+in+Transition%3F+Search+for+a+Benchmark.+++IIASA+Working+Paper.+IIASA%2C+Laxenburg%2C+Austria%3A+WP-94-051+++++