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We use a non-linear factor-augmented vector-autoregressive model to evaluate international effects of an unexpected decrease in euro area policy rates. Given the current environment of ultra low or negative interest rates, we especially focus on potential differences in the transmission of the...
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countries to shed light on the heated debate over the "decoupling" of emerging Asia. We first document the evolution of … increased significantly in the post-crisis period, suggesting "recoupling", rather than decoupling, in recent years. Output …
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