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This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...
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This paper uses a structural vector autoregression to examine differences in demand and supply shocks and the response to these shocks between EMU member countries and three other groups of countries. The first group includes non-EMU EU countries, the second group EFTA countries and the third...
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from 1995 to 2008. The findings suggest a lack of absolute convergence in the long term (1995-2008) and also when looking …, andererseits die Existenz von Konvergenzclubs aus den Einkommensverteilungen von 1995 bis 2008 hergeleitet werden kann. Die … Ergebnisse legen den Schluss nahe, dass absolute Konvergenz weder für den längeren Zeitraum 1995 bis 2008 noch für den kürzeren …
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