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The euro is a new currency, and the ECB as a new institution still has to establish its reputation. The best way to do … because market participants are unclear about which of the two pillars is the dominating one. The ECB will have to rethink its … crisis will be the real test for the euro. Politics has to accept the depolitization and the denationalization of the common …
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In the current slowdown in Europe, the United States and Japan, policy makers are vexed by the question when a recovery will come. This is the wrong question. The issue should be how a higher growth path can be reached in the long run, i.e., how the potential growth rate of our economies can be...
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high, and deregulate the labor market to allow a more decentralized wage formation.¤ …
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