Horn, Gustav A.; Herzog-Stein, Alexander; Rannenberg, Ansgar - Institut für Makroökonomie und Konjunkturforschung … - 2014
Effectively ending the crisis in the euro area remains the key policy challenge in 2014. As monetary policy has exhausted its conventional options, fiscal policy is called upon to provide an expansionary impulse by raising public investment. The high level of risk premiums in the crisis-hit...