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Since the publication of Keynes' "General Theory of Employment, Interest, and Money" in 1936 many new ideas and … where banks endogenously enter and leave the market. The resulting model generates significant amplification and persistence …
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This paper studies the design, effects and interactions of monetary and fiscal policies in the euro area. A stylized New Keynesian model with backward and forward looking dynamics is developed and augmented with monetary and fiscal policy rules. Numerical simulations are used to assess the...
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a number of central banks worldwide. There are a number of problems relating to this new monetary and macroeconomic …
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of central banks worldwide. This book raises problems relating to this new monetary and macroeconomic policy …
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this period. Using quarterly bank-level data covering 2002-08, we find evidence that liquidity-constrained banks have … sharper decline in lending during contractionary monetary policies and that crowding-out effect disappears more for banks with …
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