Second, euro area interest and exchange rate developments will be critical determinants of the external economic environment of Central and Eastern European countries. The decline of long-term interest rates in Western Europe will reduce the interest servicing costs of CEECs which hold sizeable foreign debt denominated in Western European currencies or which intend to tap the euro credit and bond markets.
2 James Bessen (2015): Learning by Doing, The Real Connection between Innovation, Wages and Wealth. Yale  University Press. 3 E.g. Lawrence F. Katz & David Autor (1999) Changes in the wage structure and earnings inequality, Handbook of  Labor Economics, in: O. Ashenfelter & D. Card (ed.