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The issue of whether globalization has yielded structural changes in the process of inflation is crucial for the definition of the role of monetary policy, and for an assessment of the strategies followed by central banks around the world. This briefing paper will first frame the argument by...

The continuous appreciation of the Euro since the Fall of 2000 and the uncertainty surrounding its future course are obscuring the prospect for growth in Europe. When one looks in retrospect to the evolution of the euro (reconstituted from 1979), an important fact shows up: since the beginning...

A consumption tax amounts to exempt savings from taxation. As such, it would have important distributional effects, first of all from the poor to the rich, but also towards capital intensive industries; and intergenerational, away from the very young (students) and the old. For what concerns...

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A review of different theoretical models confirms that economists of opposing beliefs find themselves agreeing about the usefulness of employment subsidies. In a country with a relatively high wage floor, they reduce the cost of labour for firms. In countries where wage floors are low, subsidies...

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Cette publication n'a pas de résumé