The paper is presented in four sections. Following this Introduction, Section 1 discusses the stability and sustainability of the CRER target. The conclusions of this section provide the framework for the analysis of the ...

During the quiet times of stable and rapid growth, economists tend to think that they totally master their discipline and that they have converged towards a correct understanding of macroeconomic dynamics. Similarly ...

This paper argues the euro zone requires a government banker that manages the bond market and helps finance country budget deficits. The euro solved Europe’s problem of exchange rate speculation by creating a unified ...