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homogeneous negative trend of technical change resulting, altogether, in a divergence of regional agricultural TFP. Because …
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Divergent macro-economic developments within a currency area can lead to undesired distortions. That is why in the Eurozone much attention was drawn to the homogeneity of the currency area. However, at the beginning the Eurozone seemed to be too heterogeneous for a common currency. So many hopes...
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