Substantial structural reforms have been taken on labour and product markets by stressed euro area countries since 2008 … structural reforms have reduced the heterogeneity between euro area countries in terms of market rigidities. Moreover, wage and … be detected that wage flexibility has already increased in southern euro area countries. …

. After a long period of catching up with US levels of labour productivity, euro area productivity growth had, from the mid … context. In updating this earlier analysis, we find that the growth prospects of the euro area have deteriorated further. With … backdrop, we provide a long-term projection for euro area GDP based on unchanged policies and discuss the possible impacts of …

. After a long period of catching up with US levels of labour productivity, euro area productivity growth had, from the mid … context. In updating this earlier analysis, we find that the growth prospects of the euro area have deteriorated further. With … this backdrop, we provide a long-term projection for euro area GDP based on unchanged policies and discuss the possible …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific …