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![IIF on X: "This week's Global Macro Views extends our previous exploration of our inflation-consistent output gap framework, zooming in on Italy and Spain. We find evidence of substantial slack in Italy, IIF on X: "This week's Global Macro Views extends our previous exploration of our inflation-consistent output gap framework, zooming in on Italy and Spain. We find evidence of substantial slack in Italy,](https://pbs.twimg.com/media/EtehBwHWYAAHMOc.png:large)
IIF on X: "This week's Global Macro Views extends our previous exploration of our inflation-consistent output gap framework, zooming in on Italy and Spain. We find evidence of substantial slack in Italy,
![Philipp Heimberger on X: "Output gap nonsense: the IMF estimates that negative output gaps in Italy and Spain will be smaller than 2% of GDP in 2022-2023. This downward adjustment in estimates Philipp Heimberger on X: "Output gap nonsense: the IMF estimates that negative output gaps in Italy and Spain will be smaller than 2% of GDP in 2022-2023. This downward adjustment in estimates](https://pbs.twimg.com/media/ElZiU-nWMAMokzP.jpg)
Philipp Heimberger on X: "Output gap nonsense: the IMF estimates that negative output gaps in Italy and Spain will be smaller than 2% of GDP in 2022-2023. This downward adjustment in estimates
![How Informative Are Real Time Output Gap Estimates in Europe? in: IMF Working Papers Volume 2019 Issue 200 (2019) How Informative Are Real Time Output Gap Estimates in Europe? in: IMF Working Papers Volume 2019 Issue 200 (2019)](https://www.elibrary.imf.org/view/journals/001/2019/200/images/full-9781513512549_f0014-01.jpg)
How Informative Are Real Time Output Gap Estimates in Europe? in: IMF Working Papers Volume 2019 Issue 200 (2019)
![Estimating the euro area output gap using multivariate information and addressing the COVID-19 pandemic - ScienceDirect Estimating the euro area output gap using multivariate information and addressing the COVID-19 pandemic - ScienceDirect](https://ars.els-cdn.com/content/image/1-s2.0-S0014292123000144-gr1.jpg)
Estimating the euro area output gap using multivariate information and addressing the COVID-19 pandemic - ScienceDirect
![How Informative Are Real Time Output Gap Estimates in Europe? in: IMF Working Papers Volume 2019 Issue 200 (2019) How Informative Are Real Time Output Gap Estimates in Europe? in: IMF Working Papers Volume 2019 Issue 200 (2019)](https://www.elibrary.imf.org/view/journals/001/2019/200/images/full-9781513512549_f0013-01.jpg)