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Lax monetary policy in the United States has been pointed out as one of the responsible factors behind the recent global crisis. Similar loose monetary conditions also prevailed in many European countries before the crisis and were argued to be among the accommodating factors behind the run-up...
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Colombia and Brazil, and the gas boom in Bolivia. It uses an innovative approach that combines computable general equilibrium … nature of the shock or policy change as well as the characteristics of the country in question. The book issues a warning …
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paper simulates the impact of a shortterm shock originating from the global financial system on small open economies in the … similarities and differences of the impact of a pure international financial shock on aggregate domestic price inflation and on … output gap for each of the four ASEAN countries. It suggests that the impact of such shock on the sampled economies tends to …
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