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The Report on the State of the European Union examines the progress of European integration and focuses on economic aspects of the process. This second volume in the series explores the four crises of contemporary Europe, those of growth, trust, inequalities and unity.
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We estimate a structural vector autoregressive (SVAR) model of the French economy. The econometric method originates in Blanchard and Perotti [Quarterly Journal of Economics, 2002] but owes also extensively to the fiscal theory of the price level (FTPL) that investigates the interactions between...
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