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We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...
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area and the rest of the world. We find that a rise in nominal wage inflation has positive short-run effects on inflation … relationships with the rest of the world is of particular importance, as it allows to capture the induced relative price movements … consists of Germany, the rest of the euro area, and the rest of the world. …
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We explore whether modelling parameter time variation improves the point, interval and density forecasts of nine major exchange rates vis-a-vis the US dollar over the period 1976-2015. We find that modelling parameter time variation is needed for an accurate calibration of forecast confidence...
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