In the current slowdown in Europe, the United States and Japan, policy makers are vexed by the question when a recovery will come. This is the wrong question. The issue should be how a higher growth path can be reached in the long run, i.e., how the potential growth rate of our economies can be...

In the Kiel Discussion Paper 383, Horst Siebert puts up for discussion some considerations on how to reach a higher growth path in the European Union. The paper was prepared for the first meeting of the Group of Economic Analysis of the European Commission of which Horst Siebert is a member.¤...

The economy in the euro area has turned around. While GDP stagnated during the second half of 2001, there are more and more signs that output will increase considerably in the first half of this year. All in all, the slowdown has not been very pronounced. One indication for this is that in 2001,...