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Working papers
| "Whither Monetary Policy? Monetary Policy Challenges in the Decade Ahead" |
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| "Whither Monetary Policy? Monetary Policy Challenges in the Decade Ahead" |
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| "A Question of Liquidity: The Great Banking Run of 2008?" |
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| "A Question of Liquidity: The Great Banking Run of 2008?" |
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| "Consumption, Land Prices and the Monetary Transmission Mechanism in Japan" |
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| "Consumption, Land Prices and the Monetary Transmission Mechanism in Japan" |
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| "Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness" |
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| "Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness" |
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| "Inflation and the Stock Market: Understanding the 'Fed Model'" |
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| "Inflation and the Stock Market: Understanding the 'Fed Model'" |
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| Do Central Bank Liquidity Facilities Affect Interbank Lending Rates? |
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| Do Central Bank Liquidity Facilities Affect Interbank Lending Rates? |
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| A Solution for Europe's Banking Problem |
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| A Solution for Europe's Banking Problem |
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| "Financial Crisis and the Paradox of Under- and Over-Regulation" |
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| "Financial Crisis and the Paradox of Under- and Over-Regulation" |
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| "Monetary Policy and the Dollar" |
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| "Monetary Policy and the Dollar" |
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| "Monetary Policy in Europe vs the US: What Explains the Difference?" |
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| "Monetary Policy in Europe vs the US: What Explains the Difference?" |
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| "Causes and Consequences of the Oil Shock of 2007-08" |
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| "Causes and Consequences of the Oil Shock of 2007-08" |
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| New Keynesian versus Old Keynesian Government Spending Multipliers" |
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| New Keynesian versus Old Keynesian Government Spending Multipliers" |
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| Glenn D. Rudebusch The Fed's Monetary Policy Response to the Current Crisis |
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| Glenn D. Rudebusch The Fed's Monetary Policy Response to the Current Crisis |
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| Emprirical Estimates of Changing Inflation Dynamics |
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| Emprirical Estimates of Changing Inflation Dynamics |
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| Monetary Transmission in three Central European Economies: Evidence from Time-Varying Coefficient |
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| Monetary Transmission in three Central European Economies: Evidence from Time-Varying Coefficient |
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| The Monetary Transmission Mechanism for a Small Open Economy in a Monetary Union |
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| The Monetary Transmission Mechanism for a Small Open Economy in a Monetary Union |
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| "The Excess Power Puzzle of the EU Budget" |
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| "The Excess Power Puzzle of the EU Budget" |
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| "The Crisis and the Euro" |
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| "The Crisis and the Euro" |
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| Holger Zemanek, Ansgar Belke and Gunther Schnabl |
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| Holger Zemanek, Ansgar Belke and Gunther Schnabl |
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| Trends in Monetary Policy Transparency |
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| Trends in Monetary Policy Transparency |
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| The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty - Evidence from the US and the Euro Area |
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| The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty - Evidence from the US and the Euro Area |
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| Reply to 'Generalizing the Taylor Principle: A Comment' |
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| Reply to 'Generalizing the Taylor Principle: A Comment' |
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| The Aftermath of Financial Crises |
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| The Aftermath of Financial Crises |
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| Fooled by Search: Housing Prices, Turnover and Bubbles |
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| Fooled by Search: Housing Prices, Turnover and Bubbles |
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| The Role of Labor Markets for Euro Area Monetary Policy |
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| The Role of Labor Markets for Euro Area Monetary Policy |
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| Transparency Under Flexible Inflation Targeting: Experiences and Challenges |
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| Transparency Under Flexible Inflation Targeting: Experiences and Challenges |
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| "Financial (In)Stability, Supervision and Liquidity Injections: A Dynamic General Equilibrium Approach" |
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| "Financial (In)Stability, Supervision and Liquidity Injections: A Dynamic General Equilibrium Approach" |
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| "The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes" |
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| "The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes" |
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| "Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model" |
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| "Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model" |
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| "Sophisticated Monetary Policies" |
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| "Sophisticated Monetary Policies" |
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| "The Finnish Great Depression: From Russia with Love" |
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| "The Finnish Great Depression: From Russia with Love" |
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| "Capital Regulation, Risk-Taking and Monetary Policy: A Missing Link in the Transmission Mechanism?" |
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| "Capital Regulation, Risk-Taking and Monetary Policy: A Missing Link in the Transmission Mechanism?" |
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| "Monetary Policy Implementation: Misconceptions and Their Consequences" |
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| "Monetary Policy Implementation: Misconceptions and Their Consequences" |
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| "Regulatory Reform: Integrating Paradigms" |
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| "Regulatory Reform: Integrating Paradigms" |
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| "Financial Integration and Business Cycle Synchronization" |
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| "Financial Integration and Business Cycle Synchronization" |
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| New Keynesian Versus Old Keynesian Government Spending Multipliers |
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| New Keynesian Versus Old Keynesian Government Spending Multipliers |
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| Forgive and Forget: Who Gets Credit after Bankruptcy and Why? |
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| Forgive and Forget: Who Gets Credit after Bankruptcy and Why? |
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| Financial Globalization and Economic Policies |
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| Financial Globalization and Economic Policies |
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| Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation |
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| Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation |
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| Time of Troubles: The Yen and Japan's Economy, 1985-2008 |
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| Time of Troubles: The Yen and Japan's Economy, 1985-2008 |
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| The Risk of Deflation |
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| The Risk of Deflation |
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| Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008 |
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| Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008 |
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| The Perimeter of Financial Regulation |
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| The Perimeter of Financial Regulation |
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| Why Has Japan Been Hit So Hard by the Global Recession? |
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| Why Has Japan Been Hit So Hard by the Global Recession? |
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| The Implications of the Global Financial Crisis for Low-Income Countries |
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| The Implications of the Global Financial Crisis for Low-Income Countries |
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| From Subprime Loans to Subprime Growth? Evidence for the Euro Area |
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| From Subprime Loans to Subprime Growth? Evidence for the Euro Area |
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| Fiscal and Monetary Policy During Downturns: Evidence from the G7 |
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| Fiscal and Monetary Policy During Downturns: Evidence from the G7 |
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| Deep Habits and the Dynamic Effects of Monetary Policy Shocks |
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| Deep Habits and the Dynamic Effects of Monetary Policy Shocks |
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| Fiscal Policy for the Crisis |
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| Fiscal Policy for the Crisis |
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| Banking Crises: An Equal Oppor |
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| Banking Crises: An Equal Oppor |
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| Lessons from World Bank Research on Financial Crises |
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| Lessons from World Bank Research on Financial Crises |
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| Does Inflation Targeting Matter for Output Growth? Evidence from Industrial and Emerging Economies |
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| Does Inflation Targeting Matter for Output Growth? Evidence from Industrial and Emerging Economies |
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| Deep Habits and the Dynamic Ef |
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| Deep Habits and the Dynamic Ef |
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| Fiscal Policy for the Crisis |
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| Fiscal Policy for the Crisis |
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| Banking Crises: An Equal Opportunity Menace |
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| Banking Crises: An Equal Opportunity Menace |
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| Financial Globalization and Economic Policies |
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| Financial Globalization and Economic Policies |
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| U.S. Monetary Policy Objectives in the Short and Long Run |
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| U.S. Monetary Policy Objectives in the Short and Long Run |
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| Making Sense of the Subprime Crisis |
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| Making Sense of the Subprime Crisis |
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| Fiscal Policy for the Crisis |
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| Fiscal Policy for the Crisis |
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| The Estimated Effects of the Euro on Trade: Why are They Below Historical Effects of Monetary Unions Among Smaller Countries? |
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| The Estimated Effects of the Euro on Trade: Why are They Below Historical Effects of Monetary Unions Among Smaller Countries? |
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| Inflation Targeting as the New Golden Standard |
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| Inflation Targeting as the New Golden Standard |
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| Optimal Monetary Policy Using a VAR |
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| Optimal Monetary Policy Using a VAR |
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| The Housing Meltdown: Why Did it Happen in the United States? |
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| The Housing Meltdown: Why Did it Happen in the United States? |
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| The Housing Meltdown: Why Did it Happen in the United States? |
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| DSGE Models and Central Banks |
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| DSGE Models and Central Banks |
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| DSGE Models and Central Banks |
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| Central Bank Misperceptions and the Role of Money in Interest Rate Rules |
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| Central Bank Misperceptions and the Role of Money in Interest Rate Rules |
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| Central Bank Misperceptions and the Role of Money in Interest Rate Rules |
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| Sales and Monetary Policy |
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| Sales and Monetary Policy |
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| Sales and Monetary Policy |
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| Price-Level Targeting and Risk Management in a Low-Inflation Economy |
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| Price-Level Targeting and Risk Management in a Low-Inflation Economy |
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| Price-Level Targeting and Risk Management in a Low-Inflation Economy |
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| When Can Central Banks Anchor Expectations? Policy communication and controllability |
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| When Can Central Banks Anchor Expectations? Policy communication and controllability |
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| When Can Central Banks Anchor Expectations? Policy communication and controllability |
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| Monetary Policy Regimes and the Term Structure of Interest Rates |
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| Monetary Policy Regimes and the Term Structure of Interest Rates |
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| Monetary Policy Regimes and the Term Structure of Interest Rates |
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| Housing Bubbles |
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| Housing Bubbles |
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| Housing Bubbles |
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| Financial Crash, Commodity Prices and Global Imbalances |
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| Financial Crash, Commodity Prices and Global Imbalances |
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| Financial Crash, Commodity Prices and Global Imbalances |
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| A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance |
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| A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance |
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| A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance |
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| An Exploration of the Japanese Slowdown During the 1990s |
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| An Exploration of the Japanese Slowdown During the 1990s |
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| An Exploration of the Japanese Slowdown During the 1990s |
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| Central Bank's Two-Way Communication with the Public and Inflation Dynamics |
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Central Bank's Two-Way Communication with the Public and Inflation Dynamics |
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| Central Bank's Two-Way Communication with the Public and Inflation Dynamics |
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| How Central Bankers See it: The First Decade of ECB Policy and Beyond |
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| How Central Bankers See it: The First Decade of ECB Policy and Beyond |
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| How Central Bankers See it: The First Decade of ECB Policy and Beyond |
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| The Euro and Structural Reforms |
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| The Euro and Structural Reforms |
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| The Euro and Structural Reforms |
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| An Empirical Assessment of the Relationships Among Inflation and Short- and Long-Term Expectations |
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| An Empirical Assessment of the Relationships Among Inflation and Short- and Long-Term Expectations |
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| An Empirical Assessment of the Relationships Among Inflation and Short- and Long-Term Expectations |
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| Current Account Dynamics and Monetary Policy |
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| Current Account Dynamics and Monetary Policy |
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| Current Account Dynamics and Monetary Policy |
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| The Mortgage Meltdown, Financial Markets, and the Economy |
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| The Mortgage Meltdown, Financial Markets, and the Economy |
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| The Mortgage Meltdown, Financial Markets, and the Economy |
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| Sales and Monetary Policy |
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| Sales and Monetary Policy |
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| Sales and Monetary Policy |
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| Market Responses to the Panic of 2008 |
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| Market Responses to the Panic of 2008 |
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| Market Responses to the Panic of 2008 |
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| Looking Behind The Aggregates: A reply to "Facts and myths about the financial crisis of 2008 |
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| Looking Behind The Aggregates: A reply to "Facts and myths about the financial crisis of 2008 |
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| Looking Behind The Aggregates: A reply to "Facts and myths about the financial crisis of 2008 |
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| Animal Spirits and Monetary Policy |
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| Animal Spirits and Monetary Policy |
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| Animal Spirits and Monetary Policy |
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| Monetary Policy and Asset Prices |
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| Monetary Policy and Asset Prices |
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| Monetary Policy and Asset Prices |
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| Summary of the Workshop on Consumer Behavior and Payment Choice |
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| ummary of the Workshop on Consumer Behavior and Payment Choice |
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| ummary of the Workshop on Consumer Behavior and Payment Choice |
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| Inflation Targeting-Central Bank Practice Overseas |
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| Inflation Targeting-Central Bank Practice Overseas |
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| Inflation Targeting-Central Bank Practice Overseas |
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| How to Manage the Banks |
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| How to Manage the Banks |
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| How to Manage the Banks |
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| La crisis financiera internacional |
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| La crisis financiera internacional |
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| La crisis financiera internacional |
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| Monetary Policy Effects: New Evidence from the Italian Flow of Funds |
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| Monetary Policy Effects: New Evidence from the Italian Flow of Funds |
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| Monetary Policy Effects: New Evidence from the Italian Flow of Funds |
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| Forecasting Inflation and Tracking Monetary Policy in the Euro Area: Does National Information Help? |
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| Forecasting Inflation and Tracking Monetary Policy in the Euro Area: Does National Information Help? |
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| Forecasting Inflation and Tracking Monetary Policy in the Euro Area: Does National Information Help? |
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| What Is Liquidity Risk? |
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| What Is Liquidity Risk? |
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| What Is Liquidity Risk? |
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| Can a Lender of Last Resort Stabilize Financial Markets? Lessons from the Founding of the Fed |
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| Can a Lender of Last Resort Stabilize Financial Markets? Lessons from the Founding of the Fed |
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| Can a Lender of Last Resort Stabilize Financial Markets? Lessons from the Founding of the Fed |
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| Inflation Targeting as the New Golden Standard |
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| Inflation Targeting as the New Golden Standard |
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| Inflation Targeting as the New Golden Standard |
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| Imperfect Competition in the Inter-Bank Market for Liquidity as a Rationale for Central Banking |
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| Imperfect Competition in the Inter-Bank Market for Liquidity as a Rationale for Central Banking |
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| Imperfect Competition in the Inter-Bank Market for Liquidity as a Rationale for Central Banking |
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| Monetary Policy Effects on Long-Term Rates and Stock Prices |
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| Monetary Policy Effects on Long-Term Rates and Stock Prices |
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| Monetary Policy Effects on Long-Term Rates and Stock Prices |
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| Implementing Monetary Policy in the 2000s: Operating Procedures in Asia and Beyond |
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| Implementing Monetary Policy in the 2000s: Operating Procedures in Asia and Beyond |
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| Implementing Monetary Policy in the 2000s: Operating Procedures in Asia and Beyond |
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| Financial System and Macroeconomic Resilience |
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| Financial System and Macroeconomic Resilience |
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| Financial System and Macroeconomic Resilience |
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| Financial Market Developments and Their Implications for Monetary Policy |
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| Financial Market Developments and Their Implications for Monetary Policy |
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| Financial Market Developments and Their Implications for Monetary Policy |
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| Monetary Policy Decisions: Preparing the Inputs and Communicating the Outcomes |
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| Monetary Policy Decisions: Preparing the Inputs and Communicating the Outcomes |
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| Monetary Policy Decisions: Preparing the Inputs and Communicating the Outcomes |
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| Governing the Governors: A Clinical Study of Central Banks |
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| Governing the Governors: A Clinical Study of Central Banks |
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| Governing the Governors: A Clinical Study of Central Banks |
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| Optimal Central Bank Transparency |
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| Optimal Central Bank Transparency |
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| Optimal Central Bank Transparency |
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| Past and Future of Central Bank Cooperation: Policy Panel Discussion |
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| Past and Future of Central Bank Cooperation: Policy Panel Discussion |
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| Past and Future of Central Bank Cooperation: Policy Panel Discussion |
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| On the Need for a New Approach to Analyzing Monetary Policy |
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| On the Need for a New Approach to Analyzing Monetary Policy |
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| On the Need for a New Approach to Analyzing Monetary Policy |
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| Monetary Policy in a Changing Environment |
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| Monetary Policy in a Changing Environment |
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| Monetary Policy in a Changing Environment |
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| Central Bank Intervention and Market Expectations |
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| Central Bank Intervention and Market Expectations |
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| Central Bank Intervention and Market Expectations |
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| Comparing Monetary Policy Operating Procedures across the United States, Japan and the Euro Area |
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| Comparing Monetary Policy Operating Procedures across the United States, Japan and the Euro Area |
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| Comparing Monetary Policy Operating Procedures across the United States, Japan and the Euro Area |
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| Central Bank Misperceptions and the Role of Money in Interest Rate Rules |
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| Central Bank Misperceptions and the Role of Money in Interest Rate Rules |
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| Central Bank Misperceptions and the Role of Money in Interest Rate Rules |
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| How Has the Euro Changed the Monetary Transmission? |
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| How Has the Euro Changed the Monetary Transmission? |
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| How Has the Euro Changed the Monetary Transmission? |
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| Monetary and Financial Integration in the EMU: Push or Pull? |
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| Monetary and Financial Integration in the EMU: Push or Pull? |
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| Monetary and Financial Integration in the EMU: Push or Pull? |
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| Sterilization, Monetary Policy, and Global Financial Integration |
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| Sterilization, Monetary Policy, and Global Financial Integration |
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| Sterilization, Monetary Policy, and Global Financial Integration |
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| Crisis and Responses: The Federal Reserve and the Financial Crisis of 2007-2008 |
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| Crisis and Responses: The Federal Reserve and the Financial Crisis of 2007-2008 |
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| Crisis and Responses: The Federal Reserve and the Financial Crisis of 2007-2008 |
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| Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt |
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Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt |
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| Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt |
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