Forum: The Impact of the Financial Crisis on the Real Economy

The cost of the financial crisis to the real economy has so far remained underexamined, probably because of the difficulty in making such an assessment. The crisis was precipitated by an unsustainable bubble that artificially inflated economic figures, so what should be used as a benchmark for measuring the effects of the crisis on the real economy? How reliable are current estimates of the output gap? Could overestimating this indicator lead to
underestimating the current risk of inflation? Finally, what effect will the crisis have on the declining long-term productivity gains in Europe and the USA, and what does this mean for potential output?

A series of articles:

+ Daniel Gros and Cinzia Alcidi: The Crisis and the Real Economy

+ Michael Biggs and Thomas Mayer: The Output Gap Conundrum

+ Bart van Ark: Productivity, Sources of Growth and Potential Output in the Euro Area and the United States.

Intereconomics: Archive http://archive.intereconomics.eu/years/

---