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Based upon Granger causality and Pesaran-Shin’s generalized impulse-response functions, this paper studies the link between the term structure and economic growth, and the link between the term structure and actual and expected percent changes of the Cons
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to close and the greater is the danger of credit booms and overheating. We argue that inflation targeting with floating … Maastricht inflation criterion which as currently defined has lost its economic logic. …
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