New ECB Research Bulletin
The European Central Bank released it latest Research Bulletin on 29 June. The bulletin contains articles on the international carry trade, financial integration and capital flows in the new EU member states and productivity growth in the euro area.
The lead article, on the international carry trade, points out that asset prices often do not seem to follow the predictions of standard economic models that assume investors possess fully rational expectations.
"For example," the authors argue, "such
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