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This paper focuses on the convergence performance of euro area countries before and after euro introduction. The … before 2002 (the so-called EA-12) as well as the current group of 19 euro area members (EA-19). The convergence process has … founding members until their adoption of the common currency. The convergence of income levels is not a prerequisite for a …
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This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model features a forward-looking benevolent government that needs to decide the optimal fiscal stance given the level of public debt, the cyclical position of the economy, and...
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This chapter reports on Coordinating Group on Exchange Rate Issues' (CGER) works and provides perspectives on alternative frameworks for assessing exchange rates and the rationale for CGER's general approach. The primary motivation for the work of the CGER is to identify cases where exchange...
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