Structural reforms could get eurozone out of recession, paper shows
Reforms must be introduced gradually and perceived as permanent to have desired effect
Structural reforms can drive the eurozone economy out of recession and monetary policy away from the zero lower bound (ZLB), so long as they are introduced gradually and are believed to be permanent, according to a new working paper from the Bank of Portugal.
In Euro area structural reforms in times of a global crisis, Sandra Gomes looks at structural reforms as a policy of economic stimulus for an economy with a binding ZLB, focusing on the euro area.
Her main findings show structural reforms
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