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It has been quite obvious for several years already that the attempts to achieve the aim of price stability are running into the greatest difficulties. While the rates of inflation are escalating in almost all countries, it is becoming increasingly clear at the same time that the authorities...
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Event studies represent an increasingly popular method to evaluate the welfare effects of economic policy decisions. The basic idea is that stock market reactions to the announcement of policy decisions contain superior information about the welfare effects of these decisions. This paper...
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