International co-operation The Bank continued to play an active role in the international arena. The Bank and the National Treasury will jointly chair the G-20 in 2007 and the Bank has been very active in preparing for this. The Bank has established a G-20 Unit for this purpose, which works closely with the G-20 Secretariat in the National Treasury.
Stock and M. Watson (2017), “The disappointing recovery of output after 2009”, NBER Working Paper Series, No. 23543; and Jarocinski, M. and M. Lenza (2018), “An inflation-predicting measure of the output gap in the euro area”, Journal of Money, Credit and Banking, forthcoming.