Working Paper 08-11 - What has been the damage of the financial crisis to Belgian GDP? An assessment based on the FPB’s medium-term outlook
A consensus quickly emerged among national and international organizations, based on past experiences, that the financial crisis that erupted in 2008 would have a long-lasting impact on the level of output. An initial quantification of the potential output loss imputable to the crisis for Belgium was presented in WP 10-09. This Working Paper provides an update of this analysis and examines through the successive revisions of projections made by the Federal Planning Bureau how the perception of the crisis has evolved over the last two years and what its implications are for the medium run. The shortfall in potential output is now estimated to be less than 3 %, close to the area-wide loss estimated for the OECD-countries.
|Date of creation:||21 Jun 2011|
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Valerie Cerra & Sweta Chaman Saxena, 2008.
"Growth Dynamics: The Myth of Economic Recovery,"
American Economic Review,
American Economic Association, vol. 98(1), pages 439-457, March.
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- Christophe Planas & Werner Roeger & Alessandro Rossi, 2010. "Does capacity utilisation help estimating the TFP cycle?," European Economy - Economic Papers 2008 - 2015 410, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Stéphanie Guichard & Elena Rusticelli, 2010. "Assessing the Impact of the Financial Crisis on Structural Unemployment in OECD Countries," OECD Economics Department Working Papers 767, OECD Publishing. Full references (including those not matched with items on IDEAS)
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