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European new EU member states. Based on a Balassa-Samuelson model of productivity driven inflation, it finds a high probability …
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policies in the monetary union. Furthermore, the choice for a new EU Member State to enter EMU will also depend on the monetary …
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The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
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