EU fiscal rules : a look back and the way forward

Klaus Regling

The decline of “natural real interest rates” during the last three decades is a common phenomenon in all advanced economies and can be explained by a number of structural factors: the downward trend in potential growth; population ageing, which has led to higher savings rates in many countries; and the rising inequality in the distribution of wealth, which also increases the average savings rate.

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Year of publication:	2022
Authors:	Regling, Klaus Peter
Subject:	Europäische Finanzpolitik \| European fiscal policy \| Europäischer Stabilitätsmechanismus \| European Stability Mechanism \| Eurozone \| Euro area

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