Bank’s Bean points to problems in measuring spare capacity

Charles Bean, a deputy governor at the Bank of England, on Wednesday said difficulties in calculating the amount of potential output meant estimates of the amount of spare capacity were rendered imprecise.

Speaking at a conference held by the Royal Statistical Society in London, Bean said: "At the current juncture, some indicators seem to suggest a rather large margin of spare capacity, while others point to a much smaller margin." He said attempts to determine the amount of potential output can

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