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Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank 's toolkit could hamper the predictability of policy actions. We study how monetary policy...

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that risk premiums incurred by central governments of EU member states respond positively to central government debts and … at work in European government bond markets supports the notion that the no-bailout clause in the EU Treaty is credible …

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