optimal exchange rate arrangements, see Morris Goldstein
(2002), “Managed Floating Plus...should allow the successful operation of a currency regime called “managed
float...
expected nominal depreciation plus some
unobserved risk premium ( ( ) )E S S I...that the bank loan interest rate, NBt is determined by the treasury bill rate...
of productivity growth in a set of EU economies
– the standard Solow residual plus...have been less prone to
reform over the period; New Europe, comprised of the UK...
