By D. Cobham
This booklet examines the sluggish development and different difficulties skilled by means of the Eurozone in its early years, and the demanding situations which it now faces. The authors examine the operation of economic and monetary coverage within the Eurozone, the level of structural reform and the explanations for it, and different themes.
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Additional resources for The Travails of the Eurozone: Economic Policies, Economic Developments
36 Money Growth and Inﬂation in the Euro Area 9 See Crowley (2005) for a discussion of wavelet analysis in economics. 10 The discussion in Gerlach (2004) suggests that this result arises because ﬁltered real output growth is correlated with the output gap. 11 See European Central Bank (2001, p. 42) for a discussion of money growth and inﬂation expectations. 12 Lucas (1980) presents frequency-domain evidence for US data in support of this proposition. 13 Reynard (2005) shows that accounting for changes in velocity is critical for understanding the relationship between money growth and inﬂation in the euro area and in the US since the 1970s.
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Barnett, J. E. Tauchen (eds), Nonparametric and Semiparametric Methods in Economics and Statistics.