Afonso, António; Hauptmeier, Sebastian - European Central Bank - 2009
actual GDP and potential GDP as a percentage of potential GDP
and, f is a fiscal rule indicator, and x is a vector of … can be considered as part of the vector x of institutional and other control
variables in (1), and can include, for …).
“Rules-Based Fiscal Policy in France, Germany, Italy, and Spain”, IMF Occasional
Paper 225.
Debrun, X. and Kumar, M. (2007 …