1 “... has fallen to its lowest historical rate in 2012, as households cut back savings to support...”

2 “.... Historical growth in Montenegro was driven mostly by capital with some contribution from labor, while total...”

3 “... for public finances and inflation is contingent on historical patterns of economic policymaking and private...”

4 “... at only half its historical pace. A number of policy enhancements could lift growth above this central...”

5 “... way to go. With inflation at historical lows and well-advanced repair of public finances damaged...”

6 “... and unemployment gaps are practically closed. But, growth is still below both the historical average...”

7 “... is at historical lows, and labor participation is increasing. The current account remains in surplus...”

8 “... aims to put Germany’s external position in a historical and cross-country context drawing from 55 years...”

9 “... is operating above potential, with the unemployment rate at a historical low. Growth is projected to accelerate...”

10 “... banking sector. Unemployment is close to historical lows and among the lowest in the euro area...”

11 “... contributed to growth in the gross domestic product deflator. Historical evidence suggests...”

12 “... with fiscal policy reduces the risk of long-lasting effects of a large crisis. Historical data show...”

13 “... capital and, more importantly, through enhancing productivity, historically the key growth driver...”

14 “.... The note is divided into three parts. The first section offers some historical background on the run-up...”

15 “... landscape. Demographics may soon pose a barrier for growth. The historical expansion of working age...”

16 “... distributions of their own historical values to disentangle factors cyclical credit growth...”

17 “... will increasingly determine inflation going forward. Given the historical pass-through, wage pressures are expected...”

18 “... and the structure of banking system, aligning with historical patterns. Empirical results suggest that various...”

19 “... a historic contraction, and the outlook remains challenging, with possible long-term scarring...”

20 “... propelled inflation to a historic high. The current account remains elevated. High household debt...”