Alberola, Enrique; Estrada, Ángel; Santabárbara, Daniel - In: SERIEs 5 (2014) 2, pp. 333-356
‘The Great Recession’ was preceded by a prolonged period of high growth accompanied by low and stable inflation, the so called ‘The Great Moderation’. In Spain, a similar pattern was observed: in fact, potential growth estimates were trending upwards, implying that output gaps remained...