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This paper considers the primary challenges faced by the Eurozone and caused by the 2008+ crisis. It suggests that one should distinguish among institutional, conceptual (model/paradigm) and real economic challenges. As a factor that influences progress in other areas, the latter topic is a...
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We examine how the language used by central bank officials in public press conferences influences stock returns in the … euro area. In line with the concept of Odyssean Forward Guidance, we find that using constraining language to express … analysis, we provide strong evidence that market participants interpret higher levels of uncertain language in the economic …
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