In many countries, the fiscal/infrastructure lever is hard to move or is stuck because of either a high level of existing public debt or difficulties in generating the political consensus about what should be done. A third potential lever is structural reforms that encourage firms to expand, invest, innovate and hire people.
2  That many exports even from Europe are priced in dollars is a trading convention. It does not affect the costs in domestic currencies that exporters incur. BIS Review 14/2004  3  As I pointed out in the beginning, the most sophisticated analytical techniques have been unable to profitably project the exchange rates of major currencies.