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This paper investigates the role of fiscal policies over the aggregate EMU business cycle. Previous studies, based on …, fiscal policies were substantially muted during the EMU years. This result is confirmed even for the post 2007 period. In …
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The EU's Treaties were designed to limit the interaction between fiscal and monetary policies. However, over the last decade, the introduction of the ECB's Outright Monetary Transactions (OMT) programme and its sovereign bond purchase programmes have created some strong linkages between monetary...
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