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In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non- Ricardian households is in general...
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The paper analyzes foreign exchange market volatility in four Central European EU accession countries in 2001-2003. By …
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