This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...

This volume presents a selection of mainly empirical contributions which address growth potentials and potentials for growth in Europe and the OECD. The contributions offer a national-level as well as a firm-level perspective on these issues Given this rather broad view, the volume should be of...