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A two-country sticky-price model is used to analyse the interactions between fiscal and monetary policy. The role of an u0091activistu0092 fiscal policy as a stabilisation tool is considered and a measure of the welfare gains from international fiscal policy cooperation is derived. It is found...
Persistent link: https://www.econbiz.de/10009635884
We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on economic activity and welfare. In the first part of the paper, the GARCH-SVARmodel is applied to measure empirically the effect of the conditional exogenous exchange rate...
Persistent link: https://www.econbiz.de/10009636551
This paper discusses the channels between openness and productivity and trade hampering factors. The stylized facts … markets and regulations in other countries are important trade barriers for European firms. From these outcomes it could be … derived that EU trade policies should be directed to deep integration with other countries, preferably by implementing …
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With the development towards comprehensive and more sophisticated border control regimes, the problem of protection …
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