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Sovereign Wealth Funds (SWF) play a significant role in many countries. In this paper, I develop a model that shows the potential of SWF to stabilise autocratic regimes. A ruling elite might have an incentive to put part of their income into such an investment vehicle. The reason is that a SWF...
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We estimate a New Keynesian DSGE model on French, German, Italian, and Spanish data. The main aim of this paper is to check for the respective sets of parameters that are stable over time, making use of the ESS procedure ('Estimate of Set of Stable parameters') developed by Inoue and Rossi...
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In this paper, we estimate a New Keynesian DSGE model developed by Ireland (2003) on French, German and Spanish data with the aim to explore the macroeconomic consequences of EMU. In order to validate the results from the DSGE model, we amend this analysis by stability tests of monetary policy...
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