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We compare the findings of central bank researchers and academic economists regarding the macroeconomic effects of quantitative easing (QE). We find that central bank papers find QE to be more effective than academic papers do. Central bank papers report larger effects of QE on output and in...
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five are published in high-quality journals (Journal of Monetary Economics, Journal of Money, Credit and Banking, and … Applied Economics Letters), and their average number of citations is well over 200. Moreover, we show that these papers have …
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With central banks becoming monetary authorities, research departments have become a core element of a modern central bank. Crucial elements of a central bank research department are contributing to monetary policymaking and sustaining a dialogue with the academic community. The importance of...
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This book covers the development of Economics in Japan from the inter-war period to the 2000s focusing on the … early 2000s. In short, economics in Japan is considered from both a theoretical and a policy-oriented point of view. The … academic and non-academic (practical) Japanese economics and the influence of Marx, Walras, Keynes, Fisher and Cassell. …
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In this paper I analyze the work on exchange rates and external imbalances by University of Chicago faculty members during the university's first hundred years, 1892-1992. Many people associate Chicago's views with Milton Friedman's advocacy for flexible exchange rates. But, of course, there was...
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