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We build and estimate open economy two-bloc DSGE models to study the transmission and impact of shocks in Russia, Saudi …
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This paper considers the interaction between the private sector, the monetary authority, and the fiscal authority, and concludes that unrestricted central bank independence may not be an optimal way to collect seigniorage revenues or stabilize supply shocks. Moreover, the paper shows that the...
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This paper uses the Global Integrated Monetary and Fiscal Model (GIMF), a New Keynesian open-economy general …
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