Spanish paper puts crisis legacy into context
Working paper assesses long-run trends in population and productivity growth
As the legacy of the crisis plays out against a background of falling population and productivity growth rates, Europe could be left with a "protracted period of subdued growth and high unemployment", according to a working paper published by the Bank of Spain.
In Long-lasting consequences of the European crisis, Juan Jimeno considers how these factors will influence the future growth dynamic of Europe, concluding that "only a revival of productivity growth seems within the scope of policy to
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