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monetary contraction. But given Germany's central role in the European Monetary System (EMS), we can also shed light on debates …
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When the goals of internal and external macroeconomic equilibrium are in conflict, sterilized intervention in the foreign exchange market may provide an independent policy instrument through which the central bank can resolve its dilemma in the short run. This paper is concerned with the West...
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implement a case-study on the response of banks in France, Germany, Italy and Spain to a monetary tightening. The episode we …
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like those which appear to be typical in Germany …
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