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We present estimates of finance-adjusted output gaps which incorporate the information on the domestic and global credit cycles for a sample of emerging market economies (EMEs). Following recent BIS research, we use a state-space representation of an HP filter augmented with a measure of the...
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We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework which controls for nonlinear exchange rate movements for a panel of 26 advanced and 22 emerging economies covering the 1994Q1-2017Q4 period. We find broadly that both global and...
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The article explores the legislative and regulatory responses to the global financial crisis, from a US-EU comparative perspective, focusing on the measures dealing with banks' and financial intermediaries' distress. A dual-stage approach in both legal systems is identified: the first, aiming to...
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being a developed country, Ghana was not completely insulated from the hardships or implementation of austerity measures … the relevant economic context, the article makes recommendations regarding how to minimise the impact of the austerity …
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Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as … to austerity since 2010. In addition to exploiting data from the population of all electoral contests in the UK since … have resulted in a Remain victory had it not been for a range of austerity-induced welfare reforms. Further, auxiliary …
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