compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is …

compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is … steered to uses they are keen to avoid. -- competitiveness ; inflation ; realignment ; Keynesian policy …

the Balassa model, the paper calculates a minimum aggregate inflation rate which is compatible with the requirement that … no country face a deflation. This minimum aggeragate inflation rate is 0.94% in the euro-11 countries and 1.13% in an …