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KBW 19: Measures of potential output and the output gap are of great importance for policy-makers who need to assess the cyclical position of the economy and its productive capacity.

KBW 12: The trend decline of productivity growth in Germany is not due to a single cause but is the result of the interplay of multiple factors with time-varying relative importance.

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Estimating potential output and the output gap – An analysis of the EU approach and suggestions for improvement (in German)

Productivity in Germany – Measurability and Development (in German)

Kiel Institute for
the World Economy

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