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reaction to increasing debt levels in the West German Laender panel. …
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reaction to increasing debt levels in the West German Laender panel. …
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reaction to increasing debt levels in the West German Laender panel. …
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The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...
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