The effective lower bound is not at zero Let me begin however with an important question: where is the effective lower bound in the euro area? As you know, the ECB operates on the basis of the corridor system.
The statistics also suggest that tourism from Trinidad and Tobago to the rest of the region has increased markedly, helping to offset any global slowdown. 2. Because of the strength of the export sector in the US, this recession or this slowdown (however you call it) has not been as costly in terms of employment (at least not yet) as in previous recessions.