Fiscal devaluation as a cure for Eurozone ills – Could it work?
De Mooij, Ruud, Keen, Michael. Troubled Eurozone countries face the difficult challenge of regaining competitiveness without devaluing their currency. Could a fiscal devaluation, shifting taxes from employers to consumers, help? This column presents evidence suggesting that it could, but the devil is in the detail. Πηγή: Voxeu πλήρες κείμενο