Can we limit divergence in a monetary union?
To allow national fiscal stabilizers to work, governments must be able to borrow at an affordable cost in times of economic stress. A strong fiscal framework is indispensable…
To allow national fiscal stabilizers to work, governments must be able to borrow at an affordable cost in times of economic stress. A strong fiscal framework is indispensable…
Even with more flexible economies, internal adjustment will always be slower than it would be if countries had their own exchange rate. Mario Draghi (2015). The title of…
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