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A New Keynesian DSGE model with non-Ricardian households is estimated and tested for the Portuguese economy The share of non-Ricardian households is estimated to be 58%. This relatively high value conforms to estimates for the US economy (50%), but is higher than for other European countries...
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We study the effects of the euro area monetary policy on the institutional sectors in Portugal during the period 2000 …
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Portugal's current financial crisis might be related to a banking crisis resulting from joining the Euro. The new … if all of these risks had disappeared. They began pumping money in Portugal, by borrowing intensively in Euros abroad at … and sovereign debt dramatically increased, which further soared when the Government rescued banks. Portugal was then …
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This chapter explores an institutional challenge still facing the European Monetary Union (EMU) after the Eurozone sovereign debt crisis. One of these is the absence of a centralized macroeconomic stabilization function to deal with possible asymmetrical shocks, in addition to the common...
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