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such as Ireland or Spain. However, fiscal policy can and should be used to achieve the same effect. This paper shows that … the advent of EMU relaxed existing financial constraints in Ireland and Spain, allowing a more rapid expansion of the …
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A well known problem with revealed preference methods is that when data are found to satisfy their restrictions it is hard to know whether this should be viewed as a triumph for economic theory, or a warning that these conditions are so undemanding that almost anything goes. This paper allows...
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