In this note we revisit the Kovacs effect, concerning the way in which the volume of a glass-forming liquid, which has been driven out of equilibrium, changes with time while the system evolves towards a metastable state. The theoret- ical explanation of this phenomenon has attracted much interest even in recent years, because of its relation with some subtle aspects of the still elusive nature of the glass transition. In fact, even if there is a rather general consensus on the fact that what is experimentally observed on cooling is the dramatic effect produced by the dynam- ical arrest of slower degrees of freedom over the experimental time scale, it is not yet clear whether this phenomenology can be justified upon assuming the existence of an underlying (possibly, high order) phase transition at lower temperatures.
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