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investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether … there is increasing uncertainty for central banks due to globalization-driven changes in the national economic structure. A …
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globalization from 1880 to 1913 and the Great Depression. We find that joint global dynamics across various financial quantities and …
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the world. By tightening financial conditions globally, these shocks affect the left tail of the conditional output growth …
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