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European Economy - Economic Papers

ISSN (Internet) 1725-3187

Economic Papers are written by the staff of the Directorate General for Economic and Financial Affairs (DG ECFIN) or by experts working in association with them. The series intends to increase awareness of the analytical work done on EU economic issues and to seek comments and suggestions for further analyses.

Views expressed represent exclusively the positions of the author and do not necessarily correspond to those of the European Commission.

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