This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...

This evaluation covers Trade-Related Assistance (TRA) provided by the EU from 2004 to 2010. TRA relates to AfT category 1, trade policy and regulation; category 2, trade development; to category 5, trade-related adjustment activities relevant to TRA; and to category 6, other trade-related needs....

The overall purpose of this evaluation is to ensure accountability for the use of allocated resources as well as to promote a lesson-learning culture in EC development cooperation. The main specific objectives of the evaluation were: - to provide the relevant external co-operation services of...