We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US … higher risk profile. Since the relationship between credit ratings and firm-level productivity is U-shaped, the aggregate … effect on productivity is a priori unclear. Turning to the real economy, we thus analyse whether this additional access to …

euro ; America needs stimulus not virtue ; China must fix the global currency crisis ; Europe s hould rescue banks before … states -- pt. 4. 2011: The Eurozone. How Germany can avoid a two-speed Europe ; True Europeans now need a 'Plan B' ; Germany …