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aggregation over countries. Our theory permits monitoring the effects of policy at the aggregate level over the euro area, while …We derive fundamental new theory for measuring monetary service flows aggregated over countries within the European … aggregation across countries over the heterogeneous representative agents, and we derive the resulting formulas for stochastic …
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The long and sustained expansion of the nineties has generated, especially in the US, widespread rumours about the "death of the cycle". Nevertheless, towards the end of the last decade, it became clear that fluctuations of economic activity were far from being extinct. This has contributed...
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In this paper we propose a relatively simple procedure to predict Euro-zone industrial production using mostly data derived from the business surveys of the three major economies within the European Monetary Union (France, Germany, and Italy). The basic idea is that of estimating business...
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