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This paper evaluates the effect of smoking bans in public places on the exposure to tobacco smoke of non-smokers and … variation in anti-smoking policies across US states, we show that smoking bans in public places can perversely increase the …, especially for those most exposed. We supplement this analysis by showing that bans have little effect on smoking cessation, and …
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Overnight money market rates are the predominant operational target of monetary policy. As a consequence, central banks have redesigned the implementation of monetary policy to keep the deviations of the overnight rate from the key policy rate small and short-lived. This paper uses fractional...
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We examine the impact of large-scale asset purchases of government bonds on real GDP and the CPI in the United Kingdom and the United States with a Bayesian VAR, estimated on monthly data from 2009 M3 to 2013 M5. We identify an asset purchase shock with sign and zero restrictions. In contrast to...
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