In the same spirit, I am convinced that to take the next step in economic integration, we will need to revive the political narrative for European integration. However, when we look at the past decade, we can appreciate that the need to move ahead was a direct consequence of the crisis.
“Dornbusch’s Overshooting Model after Twenty-Five Years (PDF),” speech delivered at the Mundell-Fleming Lecture, Second Annual Research Conference, International Monetary Fund, Washington, November 30 (revised January 22, 2002). Solow, Robert M. (2004). “Introduction: The Tobin Approach to Monetary Economics,” Journal of Money, Credit, and Banking, vol. 36 (August), pp. 657–63. Stock, James H., and Mark W. Watson (2003).