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This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an … focus on the size and the direction of international spillovers both from the shock itself and from the ensuing fiscal …
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US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...
Persistent link: https://www.econbiz.de/10012241154
rest of the EA - REA), the US, and the rest of the world, region-specific labour markets with search and matching frictions …
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The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...
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The euro area economies are bound together by monetary policy while still inhibiting many heterogeneities. Amongst them the share of homeowners. This paper presents a medium scale New Keynesian DSGE model of the euro area with an extensive housing market which explicitly models endogenous tenure...
Persistent link: https://www.econbiz.de/10012314677