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This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about...
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This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about...
Persistent link: https://www.econbiz.de/10013219692
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productivity and employment growth across groups of countries within Europe. Throughout the postwar era until 1995 labor … productivity grew faster in Europe than in the United States. In the decade after 1995, productivity growth in the EU-15 slowed … while that in the US accelerated. Europe’s productivity growth slowdown was largely offset by faster growth than the US in …
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