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A problem associated with inflation differentials in monetary unions is that the “crowding-in” effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house prices,...
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If there is a politically feasible way out of the crisis, it will be through revenue neutral fiscal incentives adopted …
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politically feasible way out of the crisis, it will be through revenue neutral fiscal incentives adopted by the individual …
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