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We build a new empirical model to estimate the global impact of an increase in the volatility of US monetary policy shocks. Specifically, we admit time-varying variances of local structural shocks from a stochastic volatility specification. By allowing for rich dynamic interaction between the...
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"Despite the major advances in information technology that have shaped the recent wave of globalization, openness to … suggests that a particular threat and a limiting factor to globalization and its future developments may be militarist …
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"In this paper I analyze the role of openness and globalization in Latin America's economic development. The paper is …
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