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Few areas of monetary economics have been studied as extensively as the transmission mechanism. The literature on this topic has evolved substantially over the years, following the waxing and waning of conceptual frameworks and the changing characteristics of the financial system. In this paper,...
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monetary policy. We find that an identically-sized policy shock became less effective over time. We use a DSGE model to show …
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this purpose, we incorporate in an otherwise standard two-region monetary union DSGE model a global banking sector along …
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purpose, we incorporate in an otherwise standard two-region monetary union DSGE model a banking sector module along the lines …
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