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5by Carsten Hefeker, Professor of Economics, University of Siegen, and Research Fellow, Hamburg Institute of International Economics (HWWA), Germany, Daniel Gros, Director, CEPS, Brussels, Belgium, Wim Boonstra, Chief Economist, Rabobank Nederland, Utrecht, and lecturer in monetary economics and banking, Vrije Universiteit, Amsterdam, The Netherlands. The author is indebted to Martin van Oijen for his comments on an earlier version of this article, Sylvester C. W. Eijffinger, Professor of European Financial Economics and Jean Monnet Professor of European Financial and Monetary Integration, CentER, Tilburg University, The Netherlands, Research Fellow, CEPR, London, UK, Member of the Panel of Experts of the Committee on Economic and Monetary Affairs of the European Parliament to which the article was . rst presented as a Briefing Paper (November 2004)Get full text
Published in Inter economics
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