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On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
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Austerity measures are frequently enacted when the sustainability of public finances is in doubt. Such doubts are reflected in high sovereign yield spreads and put further strain on government finances. Is austerity successful in restoring market confidence, bringing about a reduction in yield...
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We integrate systemic financial instability in an empirical macroeconomic model for the euro area. We find that at …
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In this paper, we use the estimated three-region DSGE model GEAR, which pictures Germany, the Euro Area and the Rest of … the Euro Area in terms of annualized quarter-on quarter growth rates. The main driver for the evolution of GDP were rest … Germany to the rest of the Euro Area and vice versa. This latter finding is confirmed by an impulse-response analysis and by …
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