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Robin Brooks в Twitter: "Campaign against Nonsense Output Gaps (CANOO): if Italy's output gap really is near zero, as the European Commission says (lhs), why is inflation still so low? Likely because
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Robin Brooks on Twitter: "In our work on inflation-consistent output gaps, @adam_tooze, @heimbergecon & I have shown that depressed inflation says Italy has an output gap of -7% (GDP<potential) and Spain -5%.
