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episode took a very heavy toll on the real economy, we argue that this was not a surprising outcome. In particular, historical …
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The global financial crisis of 2007-09 has led to an intensive research program analyzing a wide range of issues related to financial crises. This paper presents a summary of a forthcoming book, Financial Crises: Causes, Consequences, and Policy Responses, that includes 19 contributions...
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the world's central banks. Significant factors include: size of the home country, inflation rate (or lagged depreciation … dollar and euro over the period 1999-2004. Whether the euro might in the future rival or surpass the dollar as the world … it becomes larger than the US economy, and (2) does US macroeconomic policy eventually undermine confidence in the value …
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