Darvas, Zsolt; Pisani-Ferry, Jean - Matematikai Közgazdaságtan és Gazdaságelemzés, … - 2011
and private sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern … experience of the emerging countries of Asia and Latin America. 3) Productivity improvement was immediate in the US, but Europe … hoarded labour and productivity improvements were in general delayed. Southern European countries have hardly adjusted so far …