Graph 4  One important forecasting issue is whether this is likely to continue, or whether a return to closer-to-average productivity growth will see potential output grow a little more quickly than  6  BIS Review 167/2010  we have become accustomed to over the past decade.
This brings me to my last point – how to deal with uncertainty, with a world of unknown unknowns. And how to communicate when everyone asks “what if”. 3. Arguing with counterfactuals and navigating the short versus the long term  During this crisis, the ECB has taken a number of non-standard measures. They were, by definition, out of the ordinary.