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Euro area countries and Japan are confronted with similar challenges. Potential output is on a falling trend in the euro area, and the decrease started well before the financial crisis. In Japan, low output growth is a striking feature since many years, despite the unconventional monetary policy...
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The EU and the US confront distinct factor market dynamics and common policy challenges. Labor market developments and long-term changes in capital markets and capital flows represent key problems in aging societies. This book charts the role of different innovation systems and knowledge...
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