Potential output from a euro area perspective

Robert Anderton, Catherine Elding, Stephan Haroutunian, Valerie Jarvis, Ted Aranki, Desislava Rusinova, Vincent Labhard (), Pascal Jacquinot, Alistair Dieppe and Béla Szörfi

No 156, Occasional Paper Series from European Central Bank

Abstract: This paper reviews potential output from a euro area perspective by summarising the developments according to international institutions and assessing the impact of the crisis. The paper also considers the methodological basis for potential output estimates, and the high degree of uncertainty that surrounds them. Although it is too early to see the full effects of structural reforms implemented since 2007/08, further structural reforms are needed to support euro area potential growth, especially in view of the negative impact that population ageing is expected to have on potential growth in the future. JEL Classification: E23, E25, E32, E37, O49

Keywords: output gap; potential output; production function; structural reforms (search for similar items in EconPapers)
Date: 2014-11
New Economics Papers: this item is included in nep-eec and nep-mac
Note: 339014
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2014156

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