Jonung, Lars; Schuknecht, Ludger; Tujula, Mika - Center for Financial Studies - 2006
currency policy, causing large pro-cyclical swings in the real rate of interest transmitted via the financial sector into the …-General), Brussels, Belgium;
email: Lars.Jonung@cec.eu.int
2
European Central Bank and Center for Financial Studies, email … rates in the early
2000s stayed above the EU average.
4. The international perspective
The above account of the …