Monetary policy in Europe vs the US: what explains the difference?
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This paper compares monetary policy in the US and EMU during the last decade, employing an estimated hybrid New Keynesian cash-in-advance model, driven by five shocks. It appears that the difference between the two monetary policies between 1998 and 2006 is due to both surprises in productivity as
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美国国家经济研究局创建时间：
2009-05-01
