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World trade contracted sharply in late 2008 and early 2009 following the deepening of the financial crisis in September 2008. This paper discusses the main mechanisms behind the global downturn in trade and its impact on euro area exports and competitiveness. It finds that the euro area was hit...
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zusehen müssen, sondern gegensteuern können. Notenbanker und Politiker behaupten, dass die Finanzkrise gelöst sei. Ein Irrtum …
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