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Growth and Adjustment Challenge for the Euro Area

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  • Philip R. Lane

    (Institute for International Integration Studies, Trinity College Dublin)

Abstract

This paper reviews the growth record of the member countries of the euro area and assesses the outlook for future economic performance. We describe how the external and fiscal adjustment challenges facing the euro periphery amplify the growth risks facing these countries. We address how growth prospects can be improved by shifts in the macroeconomic policy mix, carefully-timed structural reforms, debt restructuring and the resolution of the existential crisis facing the euro area.

Suggested Citation

  • Philip R. Lane, 2013. "Growth and Adjustment Challenge for the Euro Area," The Institute for International Integration Studies Discussion Paper Series iiisdp427, IIIS.
    • Handle: RePEc:iis:dispap:iiisdp427
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    Cited by:

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    3. Karyn Morrissey, 2016. "A location quotient approach to producing regional production multipliers for the Irish economy," Papers in Regional Science, Wiley Blackwell, vol. 95(3), pages 491-506, August.

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    More about this item

    Keywords

    euro crisis; structural reform; external adjustment;
    All these keywords.

    JEL classification:

    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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