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Brad answered:

Laurent, I am not an expert on France, but Daniel Gros's work convinced me -- atm or not -- the wealth effect from rising housing prices seems well correlated with rising consumption/ domestic demand led growth and current account deficits in europe.

Now I have to look after more data :).

by Laurent GUERBY on Tue Aug 29th, 2006 at 01:48:44 PM EST
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