(2015), “The Macroeconomic Effects of the Federal Reserve’s Unconventional Monetary Policies,” Board of Governors of the Federal Reserve System Finance and Economic Discussion Series 2015–005, January. 3  See Borio. C. et al. (2015). “The Costs of Deflation: A Historical Perspective,” BIS Quarterly Review, March. 4  See Buttiglione, L., et al. (2014). “Deleveraging?
In Spain a similar step was taken three years ago, and it was a key factor pushing the Spanish economy to generally outperform the rest of the euro area in 2014. As we have seen in Spain, the Jobs Act reform can make Italy a more attractive location for doing business.