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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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provide our own estimates for the EU countries. A fiscal expansion raises output and consumption and reduces the trade balance … open EU economies, consistent with larger leakage effects. Further direct estimates suggest that fiscal expansions in large … EU economies have non-negligible consequences for economic activity in the main trading partners. This provides a …
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It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...
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10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …
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agricultural sector, pay less. However, in the EU, an adjustment of net payments to changes in the actual importance of the spe …
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