Secondly, some important economic concepts cannot even be directly observed, including the “potential” level of output consistent with stable inflation, or the “neutral” rate of interest that  BIS central bankers’ speeches  3  has neither a stimulatory nor a contractionary effect on spending.
Fora, such as this, however, can display how fascinating and practical this subject can be, as students tackle problems that show the interconnection between statistics and the real world. The BSP welcomes every opportunity to help nurture young minds with a view to strengthening the human resource base of our nation.