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state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design … models of the euro area confirms the fragility of policy analysis optimized for any specific model and shows the merits of …
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Following the experience of the global financial crisis, central banks have been asked to undertake unprecedented responsibilities. Governments and the public appear to have high expectations that monetary policy can provide solutions to problems that do not necessarily fit in the realm of...
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impairment of the monetary policy transmission mechanism in the euro area – a key factor behind the divergence of economic …
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