The production potential of an economy is partially idle. Whether monetary policy can change this situation is difficult to answer in general terms, especially since the causes of underutilization can be very different. – See potential labor force, capacity utilization rate, female employment rate, infrastructure, capacity utilization, Phillips theorem, potential growth, output gap, Say’s law, quantity processed. – Cf. ECB Monthly Bulletin of November 2013, pp. 104 f. (attempt to assign various measures), ECB Monthly Bulletin of April 2014, pp. 52 ff. (problems of calculation; references to literature; overviews).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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