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We assess the time varying features of fiscal sustainability in the euro area via revisiting the empirical relationship … between the primary budget surplus and the debt-to-GDP ratio. Focusing on a sample of 11 Euro-area countries between 1999Q1 …
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We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel...
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, business cycles are not yet well synchronized with the euro area's business cycle, and risk-sharing mechanisms may not provide …
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predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental …
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