Working Paper 10-09 - Impact de la crise financière sur le PIB potentiel de la Belgique
AbstractThe concepts of potential growth and output gap are important tools to evaluate the state of the business cycle and to assess the supply-side capacity of an economy. They have also become an essential ingredient of the European fiscal surveillance process. However, the global economy is facing its most widespread crisis in the post-war era and consequently the uncertainty regarding the impact of the crisis on supply-side conditions is enormous. In this Working Paper we compare revisions on potential growth for Belgium made recently by the Federal Planning Bureau and international organizations. Those comparisons aim at highlighting the uncertainty associated with those revisions as well as understanding better some of the channels through which the crisis may reduce potential output.
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Bibliographic InfoPaper provided by Federal Planning Bureau, Belgium in its series Working Papers with number 0910.
Date of creation: 22 Sep 2009
Date of revision:
Potential output; Output gap; Financial crisis;
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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