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Due to input-output linkages, an industry level shock can widely transmit to the rest of the economy. We identify government policies on the automobile industry, which change final prices and estimate their effect on sales and production. An example could be the scrappage schemes that many...
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Medium-term inflation expectations of the public are a key variable of interest to any modern central bank responsible …-term inflation expectations. We provide robust evidence that consumers adjust medium-term inflation views in response to changes in … short-term inflation expectations and, to a lesser degree, to changes in inflation perceptions. We find that the strong …
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Payments are a key focus of central banks, as - together with the safe, efficient operation of the payments market – wide access to cash is fundamentally important for a healthy economy. In this study, three main research areas were investigated: 1. socioeconomic characteristics that can be...
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Using the ECB Consumer Expectations Survey, this paper investigates revisions of medium-term inflation expectations. We … provide robust evidence that consumers adjust medium-term inflation views in response to changes in short-term inflation … expectations and, to a lesser degree, to changes in inflation perceptions. We find that the strong adverse Covid-19 shock …
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