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July/August 2009, 
Vol. 91, No. 4
Posted 2009-07-01

Panel Discussion: The Role of Potential Output in Policymaking

by Carlos Hamilton Araujo, Seppo Honkapohja, and James Bullard

Carlos Hamilton Araujo focuses on potential output growth in monetary policymaking in Brazil. Seppo Honkapohja offers definitions of potential output and potential growth and addresses the need to consider uncertainty in forecasting models. James Bullard focuses on the “proper” detrending of aggregate data.