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This paper studies the role of fiscal and monetary institutions in macroeconomic stability and budgetary control in central, eastern and south-eastern European countries (CESEE) in comparison with other OECD countries. CESEE countries tend to grow faster and have more volatile output than...
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We present strong empirical evidence favoring the role of effective demand in the US economy, in the spirit of Keynes … included in order to know whether the economy under study is wage led or profit led. The second represents demand from abroad …
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This paper estimates a New Keynesian open economy DSGE model for Turkey by using Bayesian estimation technique for the … economy using a small-scale model following the methodology outlined in Lubik and Schorfheide (2007). The general features of …
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