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Bundeskanzlerin Angela Merkel sagte am 10. Mai, nachdem die EU-Finanzminister einen gigantischen Rettungsschirm für den Euro beschlossen hatten: "Wir schützen das Geld der Menschen in Deutschland." Die Datenlage zeigt allerdings nicht, dass der Euro tatsächlich in großer Gefahr war. Die...
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This paper develops a New Keynesian model with sovereign default risk (NK-Default). We focus on the interaction between monetary policy, conducted according to an interest rate rule that targets inflation, and external defaultable debt issued by the government. Monetary policy and default risk...
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This paper develops a New Keynesian model with sovereign default risk (NK-Default). We focus on the interaction between monetary policy, conducted according to an interest rate rule that targets inflation, and external defaultable debt issued by the government. Monetary policy and default risk...
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