-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany … rates on real output growth for several European countries, using German interest rates as the instrument. We show that the … growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest …

French economy. The simulation results indicate that targeted reductions in employer social security taxes have six times as …

recent cyclical developments in the French economy. A comprehensive reform of the personal income tax has been assessed. This … paper analyzes the expansion of high-tech activities, and reviews a number of policy issues connected with the development …

largest global slowdown since the 1930s. We estimate spillover effects across major advanced country regions in a structural …The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the … shocks in the VAR and (uniquely, to our knowledge) the associated uncertainty. Our results suggest that the international …

intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are …