Comments by BoE's Nickell on OECD Paper

In a recent paper two OECD economists say "the absence of monetary policy autonomy seems to be associated with lower structural reform activity in large, more closed economies". Stephen Nickell commented on the paper at an ECB conference on Friday 17 June.

Romain Duval and Jorgen Elmeskov, economists at the Organisation for Economic Co-operation and Development, say in the paper 'The effects of EMU on structural reforms in labour and product markets' that "the absence of monetary policy autonomy

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