McQuinn, Kieran; Whelan, Karl - In: Intereconomics 51 (2016) 6, pp. 305-311
With a long-term projection of TFP growth of 0.2 per cent, a gradual decline in the work-age population and a static average workweek, we project a "baseline" average real GDP growth rate in the euro area of just 0.6 per cent over the next decade — even if the unemployment rate and investment...