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Summary:
This paper discusses the risks of stagnation over the medium term in the euro area. It examines the consequences of longer-term growth trends that predate the crisis and the progress made in addressing the crisis legacies of high unemployment and debt. The paper illustrates in a downside scenario, how low potential growth and crisis legacies leave the euro area vulnerable to a negative shock that tips the economy into a prolonged slowdown.
Series:
Working Paper No. 15/402
English
Publication Date:
January 22, 2016
ISBN/ISSN:
9781513565408/1018-5941
Stock No:
WPIEA2015402
Format:
Paper
Pages:
25
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