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Based on theory and on evidence from the Southern Cone the following paper concludes for emerging market economies (1) that fiscal reform is of utmost importance for macroeconomic reforms, (2) that credibility cannot be imported via a fixed exchange rate but has to be established by internal...
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This paper builds a DSGE model for a small open economy (SOE) in which the central bank intervenes the domestic currency bond and FX markets using two policy rules: a Taylor-type rule and a rule that determines the rate of nominal depreciation. The 2 'corner' regimes, in which only one policy...
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such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …
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wages, this may explain why there is no clear effect of coordination on unemployment. …
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This article investigates the impact of unemployment on the likelihood of having a first child. Using micro-data from … Germany, and the UK (1994–2001). The results highlight weak negative effects of unemployment on family formation among men …, which can be attributed to the inability to financially support a family. Among women, unemployment exerts a positive effect …
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