and prove that Europe is still a worthwhile place to invest. The crisis has had a similar impact on most European … emerging countries of Asia and Latin America. Productivity improvement was immediate in the US, but Europe hoarded labour and …

) recent attempts by floating exchange-rate countries to resist currency appreciation; 3) quantitative easing. Europe should …

predictions that have been proposed for the U.S. are deemed unlikely to apply in Europe. Testing these hypotheses we find that … für die USA diesbezüglich vermuteten Gegebenheiten gelten wahrscheinlich nicht für Europa. Die ökonometrische Analyse …