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Monetary and Fiscal Stabilization of Demand Shocks Within Europe

✍ Scribed by Chris Allsopp; Gareth Davies; Warwick McKibbin; David Vines

Book ID
108534719
Publisher
John Wiley and Sons
Year
1997
Tongue
English
Weight
856 KB
Volume
5
Category
Article
ISSN
0965-7576

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## Abstract This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central–eastern Europe. We mitigate the small‐sample problem, which is especially acute for the NMS, by using a Bayesian estimation that comb