Gern, Klaus-Jürgen; Kamps, Christophe; Meier, … - Institut für Weltwirtschaft (IfW) - 2003
lasted for two years. Monetary policy in the euro area is clearly expansionary. With only about 0.5 percent, the real … the ECB should bring the real interest rate back towards the long-run average once the depressing factors will have …Economic activity in the euro area has weakened since last summer. In the second half of 2002, real GDP increased at an …