期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2014
出版社：European Central Bank
摘要：This paper reviews potential output developments from a euro area perspective by summarising thedevelopments according to international institutions and assessing the impact of the crisis, includingan analysis based on the New Multi-Country Model (NMCM) developed at the ECB.Potential output estimates are highly uncertain, but according to estimates from internationalinstitutions, potential growth in the euro area has fallen since the onset of the financial crisis in2007/08, largely due to smaller contributions from capital and labour. The most recent estimatessuggest that potential growth may be stabilising in the euro area and that it is already picking up inthe United States. In the United States, the greater flexibility of labour markets and the economymore generally is supporting potential growth
