"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...

Oil prices have fluctuated considerably in the last few years, with major effects on the economy. This paper describes some of the mechanisms by which these fluctuations produce changes in the long-run growth of the economy. In particular, it analyses the effect on productivity, capital stock...

‘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...

‘The Great Recession' was preceded by a prolonged period of high growth accompanied by low and stable inflation, the so-called ‘Great Moderation'. During that period, potential growth estimates were trending upwards and output gaps remained small. However, other imbalances were progressively...