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This paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro area banks to the global financial crisis. We focus on their interest rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding is...
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In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary … policy based on national data and one on aggregated data. We find that the uncertainty about the transmission process …
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In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary … policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process …
Persistent link: https://www.econbiz.de/10011506467
In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co … conclude that the intense fiscal rules that have been introduced in the Eurozone after the emergence of the debt crisis reduced …
Persistent link: https://www.econbiz.de/10010533078