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.¤...