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This paper estimates a linearised DSGE model for the euro area. The model is New Keynesian and allows for a role for …
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The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
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the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality …
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This paper examines bond and stock market volatility reactions in the euro area and the US following their respective … the US and euro area bond and stock markets are used. A strong upsurge in intraday volatility at the time of the release … policy path. The observed strong discrepancy between asset price reactions in the US and in the euro area following monetary …
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This paper presents a systematic empirical relationship between money and subsequent prices and output, using US, euro …
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