On the other hand, if the economy continues to grow at a pace exceeding the potential through fiscal 2008, it is likely that the rate of utilization of resources such as production capacity and labor will rise further and the output gap will show further tightening of supply and demand conditions.
[23] Christelis, D., Georgarakos, D., Jappelli, T. and van Rooij, M. (2019), “Trust in the Central Bank and Inflation Expectations”, International Journal of Central Banking. European Central Bank Directorate General Communications Sonnemannstrasse 20, 60314 Frankfurt am Main, Germany Tel. : +49 69 1344 7455, E-mail: media@ecb.europa.eu Website: www.ecb.europa.eu Reproduction is permitted provided that the source is acknowledged.