Since labor can be added relatively quickly, the Federal Reserve’s definition of capacity utilization seems more relevant for assessing effective slack in the manufacturing sector. BIS Review 34/2004  3  sustainable potential, but rather that other causes have been at work. I now turn to these other causes. Price shocks.
It reflects the robustness and the confidence that has been built up in the Danish economy over the past 40 years. *** Closing of the speech *** So let me conclude: Throughout the last 40 years we have shown both the determination and the ability to pursue a fixed exchange rate policy.