Alho, Kari E. O. (contributor) - 2008
towards flatter tax systems would likely lead to more unstable output in the Euro Area.
23. Considering that (i) the ECB …-
duce lower positive spillovers in the Euro Area today than they used to in the past, whereas
tax cuts may now produce … generally more effective in spurring domestic output than
government spending shocks in the Euro Area. This might be due to the …