“...This paper argues that asset price cycles have significant effects on fiscal outcomes. In particular, there is evidence of debt bias-the tendency of debt to...”

“...Investment across the euro area remains below its pre-crisis level. Its performance has been weaker than in most previous recessions and financial crises. This...”

“...The momentum for structural reforms is waning in the euro area at a time when even faster progress is needed to boost productivity and growth, achieve real...”