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After the cash changeover

Abstract : Current forecasts for Europe are currently grounded on a compromise between two alternative hypothesis, which I will describe in a stylised way. According to the first which may be called the big economy assumption, the European economy not being poisoned by structural desequilibria - the huge private sector deficit (about 5% of GDP) which characterises the American economy as a consequence of past overinvestment - should soon rebound in such a way that the prospect for 2002, and in a greater extent for 2003, will be rather bright. After all, one of the benefit rightly expected from the creation of the euro is that it transforms a collection of small and medium sized economies into one big economy arithmetically less open to trade and enjoying thus a greater degree of autonomy (...).
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https://hal-sciencespo.archives-ouvertes.fr/hal-00972904
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Submitted on : Thursday, May 22, 2014 - 2:38:15 PM
Last modification on : Monday, March 21, 2022 - 2:48:13 PM
Long-term archiving on: : Friday, August 22, 2014 - 11:09:22 AM

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  • HAL Id : hal-00972904, version 1
  • SCIENCESPO : 2441/5578

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Jean-Paul Fitoussi. After the cash changeover. 2002. ⟨hal-00972904⟩

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