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The calculations were based on the panel data of the EPC (Economic Policy Committee) OGWG (Output Gap Working Group) database. The former provides detailed data on potential growth and its factors, including quantity of labour and productivity. Based

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. ( 2013 ): Internal Debt and Multinational Profit Shifting: Empirical Evidence from Firm-Level Panel Data . National Tax Journal 66 ( 1 ): 63 - 96 . 10.17310/ntj.2013.1.03 Bradbury , D. – Hanappi , T. – Moore , A. ( 2018 ): Estimating the

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, even though the method is quite limited in capturing longer-term effects. Our model is based on Falagiarda and Reitz (2015) . These authors employed a similar set of panel data to examine the impact of the ECBs quantitative easing programs. They

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): Monthly Decision Maker Panel Data – June 2020 . http://www.bankofengland.co.uk/decision-maker-panel/2020/june-2020 , accessed 09/07/2020 . BloombergNEF

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