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We compare direct forecasts of HICP and HICP excluding energy and food in the euro area and five member countries to aggregated forecasts of their main components from large Bayesian VARs with a shared set of predictors. We focus on conditional point and density forecasts, in line with...
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their labor and capital tax Laffer curves, but the EU-15 economy being much closer to the slippery slopes than the US. Our … than four fifth of a capital tax cut are self-financing in the EU-15 economy. -- Laffer curve ; US and EU-15 economy …
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