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Unemployment in Europe has reached 10% as this was prepared, and it is over 10% in the United States at the same time. How has the service economy been related to the current global recession? That is the focus of this paper. Much has been written about the impact of the structural shift to...
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We assess to which degree an international transfer mechanism can enhance consumption risk sharing as well as allocative efficiency and apply our results to a potential European unemployment benefit scheme (EUBS). Specifically, we first develop a simple model with nominal rigidities to build...
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across the sample. Evidence in favour of a diminishing effect of oil price shocks on the output and inflation is found from … the oil price movements could explain at least some of the recent inflation, the main difference between these outcomes …This paper analyses the impact of oil both price shocks on the GDP and prices in the Spanish economy and its seventeen …
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