Abstract:This discussion on recent economic literature concerns some issues on potential output and related policy implications. It is not clear to what extent potential output growth has been affected by the recent crisis. Then the actual stabilization policies-based on the existence of output gaps and public debt sustainability-might not be appropriate to mitigate effectively cyclical fluctuations and to stimulate economic growth. The recent empirical evidence on the determinants of potential output-i.e. the origin o… Show more
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