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the euro area economy and examine, using the ECB's New Area-Wide Model, the consequences of the lower bound both for the …
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the euro area economy and examine, using the ECB's New Area-Wide Model, the consequences of the lower bound both for the …
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"Monetary policy decisions tend to be based on systematic analysis of alternative policy choices and their associated macroeconomic impacts: this is science. Fiscal policy choices, in contrast, spring from unsystematic speculation, grounded more in politics than economics: this is alchemy. In...
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