Debrun, Xavier; Pisani-Ferry, Jean; Sapir, André - 2008
market-based stabilisation, or an improvement in monetary policy. Section 4 shows descriptive evidence on the size of … OECD countries, including 11 euro area members. The evidence confirms the contrast between time-series and cross …, focusing on the role of improvements in the quality of monetary policy and on progress in financial development. The evidence …