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This paper uses cross-country firm-level data to explore the impact of U.S. monetary policy shocks on firms' sales, investment, and employment. We estimate a sizeable impact of U.S. monetary policy on the average foreign firm, while controlling for other macroeconomic and financial variables...
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Corruption among central banks induces distorted policies by, first, increasing the inflation bias and, second … bankers with similar preferences, corruption might be tolerated as an instrument of bringing factual policies more in line …
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