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greenhouse gas entitlements and to analyse the potential impacts of these rules EU-wide as well as on the level of member states … multi-sectoral computable general equilibrium model for fourteen EU-member states. The major finding of the paper is that … EU economies allows smaller economies not to make full use of the advantages they get through the ability …
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impacts on the EU. The methodological framework used is based on a multi-country and multi-sectoral computable general … equilibrium model for eleven EU-member states. The emphasis of the analysis lies on the institutional setting of a carbon dioxide … findings of the paper can be summarized as follows: 1) There is some potential for a double dividend in the EU. 2) Coordination …
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After hitting the lower bound on interest rates, the Eurosystem engaged in a public sector purchase programme (PSPP) and forward guidance (FG). We use prior and posterior predictive analysis to evaluate the importance of parameter uncertainty in an analysis of these policies. We model FG as an...
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Based on SVAR models identified by sign restrictions, we estimate the macroeconomic effects of financial and uncertainty shocks in the euro area and the US, paying particular attention to their effects on prices. While our results confirm that such disturbances are important drivers of output...
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