Potential output is a measure of the longer-term production possibilities of an economy. Since this quantity cannot be observed directly, it must be determined on the basis of assumptions from existing data. The use of a production function was established in the European Commission's procedure...

Die deutsche Konjunktur ist weiter aufwärts gerichtet. Treibende Kraft bleibt die Inlandsnachfrage. Vom Außenbeitrag gingen hingegen im ersten Quartal erneut dämpfende Wirkungen aus. Im Prognosezeitraum dürfte es zu einer leichten Verschiebung der den Aufschwung treibenden Kräfte kommen....

Government agencies and other national and international institutions are asked to perform forecasts over the medium term. In particular, the EU Stability and Growth Pact contains the obligation to formulate stability programmes over four years, covering a general economic outlook as well as the...