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Central Bank Research Hub - Past 3 months



Added onto the Research Hub on 10.03.2010

an unexploited monetary policy tool

by Gabriel Perez-Quiros and Hugo Rodríguez MendizábalBank of Spain Working Papers
1004 (Mar 2010)
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"Unfunded Liabilities" and Uncertain Fiscal Financing

by Troy Davig, Eric M. Leeper, and Todd B. WalkerKansas City Fed Working Papers
10-09 (Mar 2010)
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Aggregation and the PPP Puzzle in a Sticky Price Model

by Carvalho, NechioSan Francisco Fed Working Papers
2010-06 (Mar 2010)

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Added onto the Research Hub on 08.03.2010

Commentary: Inflation Pressures and Monetary Policy in a Global Economy

by Jordi GalíIJCB International Journal of Central Banking
10q1a5 (Feb 2010)
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Too many lawyers? Litigation in Italian civil courts

by Amanda Carmignani and Silvia GiacomelliBanca d'Italia Working Papers
745 (Feb 2010)
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The effect of the Uruguay Round on the intensive and extensive margins of trade

by Ines Buono and Guy LalanneBanca d'Italia Working Papers
743 (Feb 2010)
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Housing rent dynamics in Italy

by Concetta Rondinelli, Giovanni F. VeroneseBanca d'Italia Occasional Papers
62 (Feb 2010)
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Forecast densities for economic aggregates from disaggregate ensembles

by Francesco Ravazzolo and Shaun P. Vahey,Central Bank of Norway Working Papers
2010/02 (08 Mar 2010)
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Added onto the Research Hub on 06.03.2010

Moving Back Home: Insurance Against Labor Market Risk

by Greg KaplanMinneapolis Fed Working Papers
WP677 (Mar 2010)

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Fraud Deterrence in Dynamic Mirrleesian Economies

by Roc ArmenterPhiladelphia Fed Working Papers
10-7: (Mar 2010)

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Do Oil Shocks Drive Business Cycles? Some U.S. and International Evidence

by Kristie M. Engemann, Kevin L. Kliesen, and Michael T. OwyangSt Louis Fed Working Papers
2010-007 (Mar 2010)
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Economic Freedom and Employment Growth in U.S. States

by Thomas A. Garrett, and Russell M. RhineSt Louis Fed Working Papers
2010-006 (Mar 2010)
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Dissecting Taylor Rules in a Structural VAR

by Woon Gyu Choi, and Yi WenSt Louis Fed Working Papers
2010-005 (Jan 2010)
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Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets

by Kris James Mitchener, and David C. WheelockSt Louis Fed Working Papers
2010-004 (Jan 2010)
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1/N and Long Run Optimal Portfolios: Results for Mixed Asset Menus

by Carolina Fugazza, Massimo Guidolin, and Giovanna NicodanoSt Louis Fed Working Papers
2010-003 (Jan 2010)
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Can VAR Models Capture Regime Shifts in Asset Returns? A Long-Horizon Strategic Asset Allocation Perspective

by Massimo Guidolin, and Stuart HydeSt Louis Fed Working Papers
2010-002 (Jan 2010)
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On the Social Cost of Transparency in Monetary Economies

by David AndolfattoSt Louis Fed Working Papers
2010-001 (Jan 2010)
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Added onto the Research Hub on 05.03.2010

Mergers and Sequential Innovation: Evidence from Patent Citations

by Jessica C. StahlFederal Reserve Board FEDS series
2010-12 (Mar 2010)
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Wages and the risk of displacement,

by Anabela Carneiro, Pedro Portugal,European Central Bank Working papers
1159 (26 Feb 2010)

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Added onto the Research Hub on 04.03.2010

Stressed, Not Frozen: The Federal Funds Marketin the Financial Crisis

by Gara Afonso, Anna Kovner, and Antoinette SchoarNew York Fed Staff reports
437 (Mar 2010)
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Added onto the Research Hub on 03.03.2010

Social Security, Benefit Claiming, and Labor Force Participation: A Quantitative General Equilibrium Approach

by Selahattin Imrohoroglu and Sagiri KitaoNew York Fed Staff reports
436 (Mar 2010)
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Should the Central Bank Be Concerned About Housing Prices?

by Jeske, LiuSan Francisco Fed Working Papers
2010-05 (Feb 2010)

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Bond Currency Denomination and the Yen Carry Trade

by Candelaria, Lopez, SpiegelSan Francisco Fed Working Papers
2010-04 (Feb 2010)

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Added onto the Research Hub on 02.03.2010

Housing, consumption and monetary policy: how different are the US and the euro area?,

by Alberto Musso, Stefano Neri, Livio Stracca,European Central Bank Working papers
1161 (26 Feb 2010)

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The euro area Bank Lending Survey matters: empirical evidence for credit and output growth,

by Gabe de Bondt, Angela Maddaloni, José-Luis Peydró, Silvia Scopel,European Central Bank Working papers
1160 (26 Feb 2010)

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Self-fulfilling liquidity dry-ups

by Frédéric MalherbeNational Bank of Belgium Working Papers
185 (02 Mar 2010)
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Fiat Money and the Value of Binding Portfolio Constraints

by Mário R. Páscoa, Myrian Petrassi and Juan Pablo Torres-MartínezCentral Bank of Brazil Working Papers
176 (Dec 2008)
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Expectations and Economic Fluctuations: An Analysis Using Survey Data

by Keith SillPhiladelphia Fed Working Papers
10-6: (Mar 2010)

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Added onto the Research Hub on 01.03.2010

Residential Mortgage Default: The Roles of House Price Volatility, Euphoria and the Borrower's Put Option

by Residential Mortgage Default: The Roles of House Price Volatility, Euphoria and the Borrower's Put OptionRichmond Fed Working Papers
10-02 (Mar 2010)
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The Determination of Wages of Newly Hired Employees: Survey Evidence on Internal versus External Factors

by Kamil Galu?s?c?ak, Mary Keeney, Daphne Nicolitsas,Frank Smets, Pawel Strzelecki and Matija VodopivecCentral Bank of Ireland Research Technical Papers
10/RT/04 (Mar 2010)
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Term structure forecasting using macro factors and forecast combination

by Michiel de Pooter, Francesco Ravazzolo and Dick van Dijk.,Central Bank of Norway Working Papers
2010/01 (01 Mar 2010)
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Cross-Border Spillovers from Fiscal Stimulus

by by Giancarlo Corsetti, André Meier, and Gernot J. MüllerIJCB International Journal of Central Banking
10q1a1 (Feb 2010)
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Commentary: Fiscal Stimulus and the Promise of Future Spending Cuts

by by Volker WielandIJCB International Journal of Central Banking
10q1a2 (Feb 2010)
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Has Globalzation Changed the Phillips Curve? Firm-Level Evidence on the Effect of Activity on Prices

by by Eugenio GaiottiIJCB International Journal of Central Banking
10q1a3 (Feb 2010)
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The Zero Lower Bound and Monetary Policy in a Global Economy: A Simple Analytical Investigaion

by by Ippei Jujiwara, Nao Sudo, and Yuki TeranishiIJCB International Journal of Central Banking
10q1a6 (Feb 2010)
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Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound

by by Andrew Levin, David López-Salido, Edward Nelson, and Tack YunIJCB International Journal of Central Banking
10q1a8 (Feb 2010)
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Added onto the Research Hub on 26.02.2010

Excess returns on net foreign assets: the exorbitant privilege from a global perspective,

by Maurizio Michael Habib,European Central Bank Working papers
1158 (26 Feb 2010)

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Price Level Targeting: What Is the Right Price?

by Malik Shukayev and Alexander UeberfeldtBank of Canada Working papers
2010-08 (Feb 2010)
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The Timing of Price Changes and the Role of Heterogeneity

by Daniel KaufmannSwiss National Bank Working Papers
2010-02 (26 Feb 2010)

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Liquidity in the Foreign Exchange Market: Measurement, Commonality, and Risk Premiums

by Loriano Mancini, Angelo Ranaldo and Jan WrampelmeyerSwiss National Bank Working Papers
2010-03 (26 Feb 2010)

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Modeling Monetary Policy

by Samuel Reynard and Andreas SchabertSwiss National Bank Working Papers
2010-04 (26 Feb 2010)

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The Time-Varying Systematic Risk of Carry Trade Strategies

by Charlotte Christiansen, Angelo Ranaldo and Paul SöderlindSwiss National Bank Working Papers
2010-01 (26 Feb 2010)

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Pricing Counterparty Risk at the Trade Level and CVA Allocations

by Michael Pykhtin and Dan RosenFederal Reserve Board FEDS series
2010-10 (Feb 2010)
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Labor Market Search in Emerging Economies

by Emine Boz, Ceyhun Bora Durdu, and Nan LiFederal Reserve Board International Financial Discussion Papers
2009-989 (Dec 2009)
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Asset Returns with Earnings Management

by Bo SunFederal Reserve Board International Financial Discussion Papers
2009-988 (Dec 2009)
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Bank cost efficiency in Kazakhstan and Russia

by Anatoly PeresetskyBank of Finland BOFIT Discussion Papers
2010/01 (26 Feb 2010)
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Added onto the Research Hub on 25.02.2010

Is Contagion in the Eye of the Beholder?

by Mark MinkNetherlands Bank DNB Working Papers
234 (Jan 2010)

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Real time estimates of the euro area output gap: reliability and forecasting performance,

by Massimiliano Marcellino, Alberto Musso,European Central Bank Working papers
1157 (25 Feb 2010)

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Mortgage indebtedness and household financial distress,

by Dimitris Georgarakos, Adriana Lojschová, Melanie Ward-Warmedinger,European Central Bank Working papers
1156 (25 Feb 2010)

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Combining disaggregate forecasts or combining disaggregate information to forecast an aggregate,

by David F. Hendry, Kirstin Hubrich,European Central Bank Working papers
1155 (25 Feb 2010)

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Added onto the Research Hub on 24.02.2010

Labor-Dependent Capital Income TaxationThat Encourages Work and Saving

by Sagiri KitaoNew York Fed Staff reports
435 (Feb 2010)
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The bank lending channel revisited

by Piti DisyatatBank for International Settlements Working papers
297 (Feb 2010)
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Correlated Disturbances and U.S. Business Cycles

by Vasco Cúrdia and Ricardo ReisNew York Fed Staff reports
434 (Feb 2010)
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Public and private inputs in aggregate production and growth: a cross-country efficiency approach,

by António Afonso, Miguel St. Aubyn,European Central Bank Working papers
1154 (23 Feb 2010)

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The determination of wages of newly hired employees: survey evidence on internal versus external factors,

by Kamil Galušcák, Mary Keeney, Daphne Nicolitsas, Frank Smets, Pawel Strzelecki, Matija Vodopivec,European Central Bank Working papers
1153 (23 Feb 2010)

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Government bond risk premiums in the EU revisited: the impact of the financial crisis,

by Ludger Schuknecht, Jürgen von Hagen, Guido Wolswijk,European Central Bank Working papers
1152 (23 Feb 2010)

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Added onto the Research Hub on 23.02.2010

The Paradox of Toil

by Gauti EggertssonNew York Fed Staff reports
433 (Feb 2010)
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Information acquisition during a Dutch auction

by Paavo MiettinenBank of Finland Discussion Papers
2010/07 (23 Feb 2010)
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Time Variation in Okun's Law: A Canada and U.S. Comparison

by Kimberly BeatonBank of Canada Working papers
2010-07 (Feb 2010)
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Added onto the Research Hub on 22.02.2010

Long cycles in growth: explorations using the new frequency domain techniques using US data

by Patrick M CrowleyBank of Finland Discussion Papers
2010/06 (21 Feb 2010)
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Added onto the Research Hub on 21.02.2010

Forecasting the Yield Curve for Brazil

by Daniel O. Cajueiro, Jose A. Divino and Benjamin M. TabakCentral Bank of Brazil Working Papers
197 (Nov 2009)
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Foreign Banks' Entry and Departure: The Recent Brazilian Experience (1996-2006)

by Pedro FachadaCentral Bank of Brazil Working Papers
164 (Jun 2008)
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Added onto the Research Hub on 19.02.2010

Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions

by 1005 name=1005Philadelphia Fed Working Papers
10-5: (Feb 2010)

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Common Factors in Small Open Economies: Inference and Consequences

by Pablo A. Guerron-QuintanaPhiladelphia Fed Working Papers
10-4: (Feb 2010)

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Revisiting the Role of Home Production in Life-Cycle Labor Supply

by R. Jason FabermanPhiladelphia Fed Working Papers
10-3: (Feb 2010)

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The Implications of Inflation in an Estimated New-Keynesian Model

by Pablo A. Guerron-QuintanaPhiladelphia Fed Working Papers
10-2: (Feb 2010)

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Insuring College Failure Risk

by Satyajit ChatterjeePhiladelphia Fed Working Papers
10-1: (Feb 2010)

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evidence from differences in firing costs

by Cristina Barceló and Ernesto VillanuevaBank of Spain Working Papers
1002 (Feb 2010)
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Subprime Mortgage Lending in New York City: Prevalence and Performance

by Ebiere Okah and James OrrNew York Fed Staff reports
432 (Feb 2010)
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Measuring comovement in the time-frequency space

by António RuaBank of Portugal Working papers
201001 (Feb 2010)
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Exports, Imports and Wages:Evidence from Matched Firm-Worker-Product Panels

by Pedro Martins; Luca David OpromollaBank of Portugal Working papers
201002 (Feb 2010)
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Financial market disturbances as sources of business cycle fluctuations in Finland

by Hanna FreystätterBank of Finland Discussion Papers
2010/05 (26 Jan 2010)
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Cross-border bank M&As and risk: evidence from the bond market

by Sungho ChoiBill B FrancisIftekhar HasanBank of Finland Discussion Papers
2010/04 (25 Jan 2010)
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Return from retail banking and payments

by Iftekhar HasanHeiko SchmiedelLiang SongBank of Finland Discussion Papers
2010/03 (20 Jan 2010)
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Growth strategies and value creation: what works best for stock exchanges?

by Iftekhar HasanHeiko SchmiedelLiang SongBank of Finland Discussion Papers
2010/02 (11 Jan 2010)
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Law and stock markets: evidence from an emerging market

by Timo KorkeamäkiElina RainioTuomas TakaloBank of Finland Discussion Papers
2010/01 (10 Jan 2010)
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Assembling a Real-Financial Micro-Dataset for Canadian Households

by Umar FaruquiBank of Canada Working papers
2010-06 (Feb 2010)
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What Drives Exchange Rates? New Evidence from a Panel of U.S. Dollar Bilateral Exchange Rates

by Jean-Philippe Cayen, Donald Coletti, René Lalonde, and Philipp MaierBank of Canada Working papers
2010-05 (Feb 2010)
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Macroprudential Regulation and Systemic Capital Requirements

by Céline Gauthier, Alfred Lehar, and Moez SouissiBank of Canada Working papers
2010-04 (Jan 2010)
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Corporate Risk Taking and Ownership Structure

by Teodora PaligorovaBank of Canada Working papers
2010-03 (Jan 2010)
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Labour Reallocation, Relative Prices and Productivity

by Shutao Cao and Danny LeungBank of Canada Working papers
2010-02 (Jan 2010)
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Search Frictions and Asset Price Volatility

by B. Ravikumar and Enchuan ShaoBank of Canada Working papers
2010-01 (Jan 2010)
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Added onto the Research Hub on 18.02.2010

Inaccurate Age and Sex Data in the Census PUMS files: Evidence and Implications

by Alexander, Davern, StevensonSan Francisco Fed Working Papers
2010-03 (Jan 2010)

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Expectations Traps and Coordination Failures: Selecting Among Multiple Discretionary Equilibria

by Dennis, KirsanovaSan Francisco Fed Working Papers
2010-02 (Feb 2010)

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Financial Amplification Mechanisms and the Federal Reserve's Supply of Liquidity during the Crisis

by Asani Sarkar and Jeffrey ShraderNew York Fed Staff reports
431 (Feb 2010)
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Added onto the Research Hub on 17.02.2010

Momentum or Contrarian Investment Strategies:Evidence from Dutch institutional investors

by Leo de Haan and Jan KakesNetherlands Bank DNB Working Papers
242 (Feb 2010)

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Inflation Expectations and Stability in an Overlapping Generations Experiment with Money Creation

by Peter Heemeijer, Cars Hommes, Joep Sonnemans and Jan TuinstraNetherlands Bank DNB Working Papers
241 (Feb 2010)

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How well-behaved are higher-order perturbation solutions?

by Wouter J. den Haan and Joris de WindNetherlands Bank DNB Working Papers
240 (Jan 2010)

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Added onto the Research Hub on 16.02.2010

Structural Macro-Econometric Modelling in a Policy Environment

by Martin FukacKansas City Fed Working Papers
10-08 (Feb 2010)
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Impulse Response Identification in DSGE Models

by Martin FukacKansas City Fed Working Papers
10-07 (Feb 2010)
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Discretionary Monetary Policy in the Calvo Model

by Willem Van Zandweghe and Alexander L. WolmanKansas City Fed Working Papers
10-06 (Feb 2010)
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The Taylor Rule and the Practice of Central Banking

by Pier Francesco Asso, George A. Kahn, and Robert LeesonKansas City Fed Working Papers
10-05 (Feb 2010)
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Banking competition, collateral constraints and optimal monetary policy

by Javier Andrés, Óscar Arce and Carlos ThomasBank of Spain Working Papers
1001 (Feb 2010)
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"http://www.bundesbank.de/download/volkswirtschaft/dkp/2010/201001dkp.pdf"

by Rossana MerolaDeutsche Bundesbank Discussion Papers
201001 (15 Feb 2010)

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Added onto the Research Hub on 12.02.2010

Forecasting Direct Investment Equity Income for the Danish Balance of Payments

by Damgaard, Jannick and Laursen, Mathies Lau Friis and Wederkinck, RobertDanmarks Nationalbank Working papers
WP65/2010 (12 Feb 2010)
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Added onto the Research Hub on 11.02.2010

Evaluating household expenditures and their relationship with house prices at the microeconomic level

by Mark SmithReserve Bank of New Zealand Discussion Papers
DP2010/01 (Jan 2010)

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Testing for Asymmetric Pricing Behaviour in Irish and UK Petrol and Diesel Markets

by Colin Bermingham and Derry O? BrienCentral Bank of Ireland Research Technical Papers
10/RT/03 (Feb 2010)
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How are Irish households coping with their mortgage repayments? Information from the SILC Survey

by Yvonne McCarthy and Kieran McQuinnCentral Bank of Ireland Research Technical Papers
10/RT/02 (Feb 2010)
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Added onto the Research Hub on 10.02.2010

Inventories, Inflation Dynamics, and the New Keynesian Phillips Curve

by Inventories, Inflation Dynamics, and the New Keynesian Phillips CurveRichmond Fed Working Papers
10-01 (Feb 2010)
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The Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market

by Morten L. Bech and Elizabeth KleeFederal Reserve Board FEDS series
2010-07 (Feb 2010)
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Spatial Filtering, Model Uncertainty and the Speed of Income Convergence in Europe

by Jesús Crespo Cuaresma and Martin FeldkircherAustrian National Bank Working Papers
WP160 (11 Jan 2010)
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Loss Aversion, Asymmetric Market Comovements, and the Home Bias

by Kevin Amonlirdviman and Carlos CarvalhoNew York Fed Staff reports
430 (Feb 2010)
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Added onto the Research Hub on 05.02.2010

Credit and banking in a DSGE model of the euro area

by Andrea Gerali, Stefano Neri, Luca Sessa and Federico Maria SignorettiBanca d'Italia Working Papers
740 (Jan 2010)
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The use of survey weights in regression analysis

by Ivan FaiellaBanca d'Italia Working Papers
739 (Jan 2010)
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External trade and monetary policy in a currency area

by Martina CecioniBanca d'Italia Working Papers
738 (Jan 2010)
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The pro-competitive effect of imports from China: an analysis of firm-level price data

by Matteo Bugamelli, Silvia Fabiani and Enrico SetteBanca d'Italia Working Papers
737 (Jan 2010)
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Sacrifice ratio or welfare gain ratio? Disinflation in a DSGE monetary model

by Guido Ascari and Tiziano RopeleBanca d'Italia Working Papers
736 (Jan 2010)
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Added onto the Research Hub on 30.01.2010

Methodological advances in the assessment of equilibrium exchange rates,

by Matthieu Bussičre, Michele Ca' Zorzi, Alexander Chudik, Alistair Dieppe,European Central Bank Working papers
1151 (29 Jan 2010)

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Do bank loans and credit standards have an effect on output? A panel approach for the euro area,

by Lorenzo Cappiello, Arjan Kadareja, Christoffer Kok Sørensen, Marco Protopapa,European Central Bank Working papers
1150 (29 Jan 2010)

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Does it matter how to measure aggregates? The case of monetary transmission mechanisms in the euro area,

by Andreas Beyer, Katarina Juselius,European Central Bank Working papers
1149 (29 Jan 2010)

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Added onto the Research Hub on 29.01.2010

Euler-Equation Estimation for Discrete Choice Models: A Capital Accumulation Application

by Russell Cooper, John Haltiwanger, Jonathan L. WillisKansas City Fed Working Papers
10-04 (Jan 2010)
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Training or Search? Evidence and an Equilibrium Model

by Jun NieKansas City Fed Working Papers
10-03 (Jan 2010)
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Executive Compensation and Business Policy Choices at U.S. Commercial Banks

by Robert DeYoung, Emma Y. Peng, Meng YanKansas City Fed Working Papers
10-02 (Jan 2010)
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Inflation Targeting and Private Sector Forecasts

by Stephen G. Cecchetti and Craig S. HakkioKansas City Fed Working Papers
10-01 (Jan 2010)
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Forecasting Chilean Inflation From Disaggregate Components

by Marcus CobbCentral Bank of Chile Working Papers
545 (Dec 2009)
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Towards an Operational Framework for Financial Stability: "Fuzzy" Measurement and its Consequences

by Claudio Borio; Mathias DrehmannCentral Bank of Chile Working Papers
544 (Dec 2009)
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Institutional Bias Towards The Status Quo

by Dalibor EterovicCentral Bank of Chile Working Papers
543 (Dec 2009)
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A Network Model of Super-systemic Crises

by Prasanna Gai; Sujit KapadiCentral Bank of Chile Working Papers
542 (Dec 2009)
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New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

by Dale F. Gray, Robert C. Merton, Zvi BodieCentral Bank of Chile Working Papers
541 (Dec 2009)
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Households' Financial Vulnerability

by Marcelo Fuenzalida , Jaime Ruiz-Tagle,Central Bank of Chile Working Papers
540 (Dec 2009)
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Added onto the Research Hub on 28.01.2010

SEPA, Efficiency, and Payment Card Competition

by Wilco Bolt and Heiko SchmiedelNetherlands Bank DNB Working Papers
239 (Jan 2010)

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Determinants of consumer financial risktaking:Evidence from deductible choice

by Janko Gorter and Paul SchilpNetherlands Bank DNB Working Papers
238 (Jan 2010)

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On the Possibility of Credit Rationing in the Stiglitz-Weiss Model: A Comment

by Itai AgurNetherlands Bank DNB Working Papers
237 (Jan 2010)

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The power of weather

by Christian Huurman, Francesco Ravazzolo and Chen ZhouNetherlands Bank DNB Working Papers
236 (Jan 2010)

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The pungent smell of "Red Herrings" Subsoil assets, rents, volatility and the resource curse

by Frederick van der Ploeg and Steven PoelhekkeNetherlands Bank DNB Working Papers
233 (Jan 2010)

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Are banks too big to fail?

by Chen ZhouNetherlands Bank DNB Working Papers
232 (Jan 2010)

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Discriminatory fees, coordination and investment in shared ATM network

by Stijn FerrariNational Bank of Belgium Working Papers
184 (28 Jan 2010)
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Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs

by Linda S. Goldberg, Craig Kennedy, and Jason MiuNew York Fed Staff reports
429 (Jan 2010)
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Added onto the Research Hub on 26.01.2010

Risk premium shocks, monetary policy and exchange rate pass-through in the Czech Republic, Hungary and Poland

by Balázs VonnákMagyar Nemzeti Bank Working papers
2010/01 (Jan 2010)
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Macro Risk Premium and Intermediary Balance Sheet Quantities

by Tobias Adrian, Emanuel Moench, and Hyun Song ShinNew York Fed Staff reports
428 (Jan 2010)
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Added onto the Research Hub on 25.01.2010

Market Forecasts in Brazil: performance and determinants

by Fabia A. de Carvalho and André MinellaCentral Bank of Brazil Working Papers
185 (Apr 2009)
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Monetary Channels in Brazil through the Lens of a Semi-Structural Model

by André Minella and Nelson F. Souza-SobrinhoCentral Bank of Brazil Working Papers
181 (Apr 2009)
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Choosing and using payment instruments: evidence from German microdata

by Ulf von Kalckreuth, Tobias Schmidt, Helmut StixDeutsche Bundesbank Discussion Papers
200936 (31 Dec 2009)

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Added onto the Research Hub on 22.01.2010

Assessing the systemic risk of a heterogeneous portfolio of banks during the recent financial crisis

by Xin Huang, Hao Zhou and Haibin ZhuBank for International Settlements Working papers
296 (Jan 2010)
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Is there a signalling role for public wages? Evidence for the euro area based on macro data,

by Javier J. Pérez, Jesús Sánchez,European Central Bank Working papers
1148 (21 Jan 2010)

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Interbank contagion at work: evidence from a natural experiment,

by Rajkamal Iyer, José-Luis Peydró,European Central Bank Working papers
1147 (21 Jan 2010)

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The role of central bank transparency for guiding private sector forecasts,

by Michael Ehrmann, Sylvester Eijffinger, Marcel Fratzscher,European Central Bank Working papers
1146 (21 Jan 2010)

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Added onto the Research Hub on 21.01.2010

Monetary determinats of the Swiss franc

by Carlos Lenz and Marcel R. SaviozSwiss National Bank Working Papers
2009-16 (21 Jan 2010)

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Demand for Reserves and the Central Bank's Management of Interest Rates

by Martin Schlegel and Sébastien KraenzlinSwiss National Bank Working Papers
2009-15 (21 Jan 2010)

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Bidding Behavior in the SNB's Repo Auctions

by Sébastien Kraenzlin and Martin SchlegelSwiss National Bank Working Papers
2009-14 (21 Jan 2010)

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Added onto the Research Hub on 20.01.2010

A quarterly fiscal database for the euro area based on intra-annual fiscal information

by Joan Paredes, Diego J. Pedregal and Javier J. PérezBank of Spain Working Papers
0935 (Jan 2009)
 Abstract
 Full text

Is there a signalling role for public wages? Evidence for the euro area based on macro data

by Javier J. Pérez and A. Jesús SánchezBank of Spain Working Papers
0934 (Jan 2009)
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Short-term monitoring of the Spanish Government balance with mixed-frequencies models

by Teresa Leal, Diego J. Pedregal and Javier J. PérezBank of Spain Working Papers
0931 (Jan 2009)
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Performance Maximization of Actively Managed Funds

by Paolo Guasoni, Gur Huberman, and Zhenyu WangNew York Fed Staff reports
427 (Jan 2010)
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 Full text

Added onto the Research Hub on 19.01.2010

Transitional Dynamics of Output and Factor Income Shares: Lessons from East Germany

by Simona E. CociubaDallas Fed Institute Working Papers
0043 (Jan 2010)

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0042 (Jan 2010)

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by Robert KollmannDallas Fed Institute Working Papers
0041 (Jan 2010)

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Russian banking: The state makes a comeback?

by Andrei VernikovBank of Finland BOFIT Discussion Papers
2009/24 (31 Dec 2009)
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An area-wide real-time database for the euro area,

by Domenico Giannone, Jerome Henry, Magdalena Lalik, Michele Modugno,European Central Bank Working papers
1145 (19 Jan 2010)

 Full text

Added onto the Research Hub on 15.01.2010

Impact of Fiscal Policy on Residential Investment in France

by Pamfili Antipa and Christophe SchalckBank of France Working Papers
Nr 270 (Dec 2009)
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 Full text

A FAVAR-based analysis of the transmission of US shocks to Germany (in German only)

by Sandra EickmeierDeutsche Bundesbank Discussion Papers
200935 (31 Dec 2009)

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by Michael J. Fleming, Warren B. Hrung, and Frank M. KeaneNew York Fed Staff reports
426 (Jan 2010)
 Abstract
 Full text

Added onto the Research Hub on 14.01.2010

Housing cycles in the major euro area countries

by Luis.J Álvarez, Guido Bulligan, Alberto Cabrero, Laurent Ferrara and Harald StahlBank of France Working Papers
Nr 269 (Dec 2009)
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 Full text

The Measurement of Rent Inflation

by Jonathan McCarthy and Richard W. PeachNew York Fed Staff reports
425 (Jan 2010)
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 Full text

Added onto the Research Hub on 13.01.2010

Cyclical relationships between GDP and housing market in France: Facts and factors at play

by Laurent Ferrara and Olivier VignaBank of France Working Papers
Nr 268 (Dec 2009)
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 Full text

The "housing bubble" and financial factors: Insights from a structural model of the French and Spanish residential markets

by Pamfili Antipa and Rémy LecatBank of France Working Papers
Nr 267 (Dec 2009)
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 Full text

Added onto the Research Hub on 12.01.2010

Choosing and using payment instruments: evidence from German microdata,

by Ulf Von Kalckreuth, Tobias Schmidt, Helmut Stix,European Central Bank Working papers
1144 (30 Dec 2009)

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What drives the network's growth? An agent-based study of the payment card market,

by Biliana Alexandrova-Kabadjova, José Luis Negrín,European Central Bank Working papers
1143 (30 Dec 2009)

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Credit card use after the final mortgage payment: does the magnitude of income shocks matter?,

by Barry Scholnick,European Central Bank Working papers
1142 (30 Dec 2009)

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by Santiago Carbó-Valverde, José M. Lińares-Zegarra,European Central Bank Working papers
1141 (30 Dec 2009)

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SEPA, efficiency, and payment card competition,

by Wilko Bolt, Heiko Schmiedel,European Central Bank Working papers
1140 (30 Dec 2009)

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Pricing payment cards,

by Özlem Bedre-Defolie, Emilio Calvano,European Central Bank Working papers
1139 (30 Dec 2009)

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Credit card interchange fees,

by Jean-Charles Rochet, Julian Wright,European Central Bank Working papers
1138 (30 Dec 2009)

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Regulating two-sided markets: an empirical investigation,

by Santiago Carbó-Valverde, Sujit Chakravorti, Francisco Rodríguez Fernández,European Central Bank Working papers
1137 (30 Dec 2009)

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Payment scale economies, competition, and pricing,

by David B. Humphrey,European Central Bank Working papers
1136 (30 Dec 2009)

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Return to retail banking and payments,

by Iftekhar Hasan, Heiko Schmiedel, Liang Song,European Central Bank Working papers
1135 (30 Dec 2009)

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Stockholding: Does housing wealth matter?

by Luc Arrondel and Frédérique SavignacBank of France Working Papers
Nr 266 (Dec 2009)
 Abstract
 Full text

Labour mobility in Italy: new evidence on migration trends

by Sauro Mocetti, Carmine PorelloBanca d'Italia Occasional Papers
61 (Jan 2010)
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Public incentives for firms: micro-level evidence

by Diego Caprara, Amanda Carmignani, Alessio D’IgnazioBanca d'Italia Occasional Papers
60 (Jan 2010)
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 Full text

Determinants of inflation and price level differentials across the euro area countries,

by Malin Andersson, Klaus Masuch, Marc Schiffbauer,European Central Bank Working papers
1129 (30 Dec 2009)

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Added onto the Research Hub on 09.01.2010

Exchange Rate Volatility and Export Margins.

by Roberto Álvarez, Michael Doyle , Ricardo A. LópezCentral Bank of Chile Working Papers
539 (Dec 2009)
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 Full text

Added onto the Research Hub on 07.01.2010

Policy Perspectives on OTC Derivatives Market Infrastructure

by Darrell Duffie, Ada Li, and Theo LubkeNew York Fed Staff reports
424 (Jan 2010)
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 Full text

Added onto the Research Hub on 06.01.2010

Consumption and real exchange rates in professional forecasts

by Michael B Devereux, Gregor W Smith and James YetmanBank for International Settlements Working papers
295 (Dec 2009)
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Are Chinese Exports Sensitive to Changes in the Exchange Rate?

by Shaghil AhmedFederal Reserve Board International Financial Discussion Papers
2009-987 (Dec 2009)
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Macro-Finance Models of Interest Rates and the Economy

by RudebuschSan Francisco Fed Working Papers
2010-01 (Jan 2010)

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Diversification Across Characteristics

by Erik HjalmarssonFederal Reserve Board International Financial Discussion Papers
2009-986 (Dec 2009)
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Executive Compensation and Earnings Management Under Moral Hazard

by Bo SunFederal Reserve Board International Financial Discussion Papers
2009-985 (Dec 2009)
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The Federal Reserve's Commercial Paper Funding Facility

by Tobias Adrian, Karin Kimbrough, and Dina MarchioniNew York Fed Staff reports
423 (Jan 2010)
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Financial Intermediation, Asset Prices, and Macroeconomic Dynamics

by Tobias Adrian, Emanuel Moench, and Hyun Song ShinNew York Fed Staff reports
422 (Jan 2010)
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by Tobias Adrian, Arturo Estrella, and Hyun Song ShinNew York Fed Staff reports
421 (Jan 2010)
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A Structural Investigation into the Price and Wage Dynamics in Hong Kong

by Michael Cheng and Wai-Yip Alex HoHong Kong Monetary Authority Working Papers
WP09_20 (Dec 2009)
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Productivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century

by Gilbert Cette, Yusuf Kocoglu and Jacques MairesseBank of France Working Papers
Nr 265 (Jan 2010)
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Consumption-Wealth Ratio and Housing Prices

by Simon Dubecq and Imen GhattassiBank of France Working Papers
Nr 264 (Dec 2009)
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Added onto the Research Hub on 05.01.2010

On The Role and Effects of IMF Seniority

by Diego SaraviaCentral Bank of Chile Working Papers
538 (Dec 2009)
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The Balance Sheet Channel

by Ethan Cohen-Cole, Enrique Martinez-GarciaCentral Bank of Chile Working Papers
537 (Dec 2009)
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Estimating the cross-sectional distribution of price stickiness from aggregate data

by Carvalho, Carlos and Dam, Niels ArneDanmarks Nationalbank Working papers
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Added onto the Research Hub on 04.01.2010

Deciding to peg the exchange rate in developing countries: the role of private-sector debt

by Philipp Harms, Mathias HoffmannDeutsche Bundesbank Discussion Papers
200934 (31 Dec 2009)

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Added onto the Research Hub on 31.12.2009

Assessing McCallum and Taylor rules in a cross-section of emerging market economies

by Aaron Mehrotra and José R. Sánchez-FungBank of Finland BOFIT Discussion Papers
2009/23 (31 Dec 2009)
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Determinants of bank interest margins in Russia: Does bank ownership matter?

by Zuzana Fungácová and Tigran PoghosyanBank of Finland BOFIT Discussion Papers
2009/22 (30 Dec 2009)
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A soft edge target zone model: Theory and application to Hong Kong

by Yu-Fu Chen, Michael Funke and Nicole GlanemannBank of Finland BOFIT Discussion Papers
2009/21 (29 Dec 2009)
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Asset-price boom-bust cycles and credit: what is the scope of macro-prudential regulation?

by Vladimir Borgy, Laurent Clerc and Jean-Paul RenneBank of France Working Papers
Nr 263 (Dec 2009)
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A Multi-Sectoral Approach to the U.S. Great Depression

by Pedro Amaral and James C MacGeeCleveland Fed Working papers
0911 (Dec 2009)

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by Anat Bracha, Michael Menietti, and Lise VesterlundBoston Fed Working papers
09-21 (Dec 2009)
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State-Dependent Pricing and Optimal Monetary Policy

by Denny LieBoston Fed Working papers
09-20 (Dec 2009)
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Added onto the Research Hub on 30.12.2009

a general equilibrium model of the oil-macroeconomy nexus

by Anton Nakov and Galo NuñoBank of Spain Working Papers
0932 (Dec 2009)
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Below the Line: Estimates of Negative Equity among Nonprime Borrowers

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by William L. SilberNew York Fed Economic policy review
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Forecasting inflation in France.

by Claire CélérierBank of France Working Papers
Nr 262 (Dec 2009)
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Can Lower Tax Rates Be Bought? Business Rent-Seeking and Tax Competition Among U.S. States

by Chirinko, WilsonSan Francisco Fed Working Papers
2009-29 (Dec 2009)

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by Liu, Wang, ZhaSan Francisco Fed Working Papers
2009-28 (Dec 2009)

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Entry into Export Markets and Product Quality Differences

by Roberto Álvarez, J. Rodrigo FuentesCentral Bank of Chile Working Papers
536 (Dec 2009)
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Análisis de Derechos Contingentes: Aplicación a Casas Comerciales

by Rodrigo Alfaro, Natalia GallardoCentral Bank of Chile Working Papers
535 (Dec 2009)
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an empirical assessment

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107 (Dec 2009)

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by Jane Dokko, Brian Doyle, Michael T. Kiley, Jinill Kim, Shane Sherlund, Jae Sim, and Skander Van den HeuvelFederal Reserve Board FEDS series
2009-49 (Dec 2009)
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Productivity, Welfare, and Reallocation: Theory and Firm-Level Evidence

by Susanto Basu, Luigi Pascali, Fabio Schiantarelli, and Luis ServenBoston Fed Working papers
09-19 (Dec 2009)
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Policy Announcements and Welfare

by Vadym Lepetyuk, Christian A. StoltenbergNational Bank of Poland Working papers
065 (Aug 2009)

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by Tom Fong, Laurence Fung, Lillie Lam and Ip-wing YuHong Kong Monetary Authority Working Papers
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Real Time Underlying Inflation Gauges for Monetary Policymakers

by Marlene Amstad and Simon PotterNew York Fed Staff reports
420 (Dec 2009)
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Estimating the Cross-Sectional Distribution of Price Stickiness from Aggregate Data

by Carlos Carvalho and Niels Arne DamNew York Fed Staff reports
419 (Dec 2009)
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The Valuation Channel of External Adjustment

by Fabio Ghironi, Jaewoo Lee, and Alessandro RebucciBoston Fed Working papers
09-18 (Dec 2009)
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Multiple Selves in Intertemporal Choices

by Julian Jamison and Jon WegenerBoston Fed Working papers
09-17 (Dec 2009)
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a general equilibrium analysis

by Javier Andrés, Samuel Hurtado, Eva Ortega and Carlos ThomasBank of Spain Working Papers
0927 (Dec 2009)
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by Andrew Haughwout, Richard Peach, and Joseph TracyNew York Fed Staff reports
418 (Dec 2009)
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by Andrew Haughwout, Ebiere Okah, and Joseph TracyNew York Fed Staff reports
417 (Dec 2009)
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Measuring Changes in Firm-Level Volatility - An Application to Japan

by Emmanuel De Veirman and Andrew LevinReserve Bank of New Zealand Discussion Papers
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Real and Nominal Frictions within the Firm: How Lumpy Investment Matters for Price Adjustment

by Michael K. JohnstonBank of Canada Working papers
2009-36 (Dec 2009)
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Added onto the Research Hub on 22.12.2009

Efectos del Calentamiento Global sobre la Industria Pesquera

by Carlos MedelCentral Bank of Chile Working Papers
534 (Dec 2009)
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Hybrid Inflation Targeting Regimes

by Carlos García , Jorge Restrepo, Scott RogerCentral Bank of Chile Working Papers
533 (Dec 2009)
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Estimating DSGE-Model-Consistent Trends for Use in Forecasting

by Jean-Philippe Cayen, Marc-André Gosselin, and Sharon KozickiBank of Canada Working papers
2009-35 (Dec 2009)
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Added onto the Research Hub on 21.12.2009

Whatever next? Export market choices of New Zealand firms

by Richard Fabling, Arthur Grimes, and Lynda SandersonReserve Bank of New Zealand Discussion Papers
DP2009/19 (Dec 2009)

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Global shocks, economic growth and financial crises - 120 years of New Zealand experience

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Impulse Response Identification in DSGE Models

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DP2009/14 (Dec 2009)

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DP2009/13 (Dec 2009)

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Financial Literacy and Retirement Planning in the Netherlands

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231 (Dec 2009)

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230 (Dec 2009)

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228 (Dec 2009)

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The risk of relying on reputational capital: a case study of the 2007 failure of New Century Financial

by Allen B FrankelBank for International Settlements Working papers
294 (Dec 2009)
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Mean reversion in profitability for non-listed firms

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2009/29 (21 Dec 2009)
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Optimality of prompt corrective action in a continuous - time model with recapitalization possibility

by Vo Thi Quynh AnhCentral Bank of Norway Working Papers
2009/28 (21 Dec 2009)
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Distributional tests in multivariate dynamic models with Normal and Student t innovations

by Javier Mencía and Enrique SentanaBank of Spain Working Papers
0929 (Dec 2009)
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Forecasting New Zealand's economic growth using yield curve information

by Leo Krippner, and Leif Anders ThorsrudReserve Bank of New Zealand Discussion Papers
DP2009/18 (Nov 2009)

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The Blessing of Natural Resources: Evidence from a Peruvian Gold Mine

by Fernando M. Aragón and Juan Pablo RudCentral Reserve Bank of Peru Working Papers
2009-015 (Dec 2009)

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What explains the surge in euro area sovereign spreads during the financial crisis of 2007-09?,

by Maria-Grazia Attinasi, Cristina Checherita, Christiane Nickel,European Central Bank Working papers
1131 (17 Dec 2009)

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Monetary policy and potential output uncertainty: a quantitative assessment,

by Simona Delle Chiaie,European Central Bank Working papers
1130 (17 Dec 2009)

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EMU and the adjustment to asymmetric shocks: the case of Italy,

by Gianni Amisano, Nicola Giammarioli, Livio Stracca,European Central Bank Working papers
1128 (17 Dec 2009)

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Recent Reforms of the Deposit Insurance System in the United States: Reasons, Results, and Recommendations for the European Union

by Konrad SzelagNational Bank of Poland Working papers
059 (May 2009)

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by Todd Keister and James J. McAndrewsNew York Fed Current issues
ci15-08 (09 Dec 2009)
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The Mechanics of a Graceful Exit: Interest on Reservesand Segmentation in the Federal Funds Market

by Morten L. Bech and Elizabeth KleeNew York Fed Staff reports
416 (Dec 2009)
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A Consistent Test for Multivariate Conditional Distributions

by Fuchun Li and Greg TkaczBank of Canada Working papers
2009-34 (Dec 2009)
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Measuring Consumer Uncertainty about Future Inflation

by Wandi Bruine de Bruin, Charles F. Manski, Giorgio Topa, and Wilbert van der KlaauwNew York Fed Staff reports
415 (Dec 2009)
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Credit Market Shocks: Evidence From Corporate Spreads and Defaults

by 0906Credit Market Shocks: Evidence From Corporate Spreads and DefaultsRoland MeeksDallas Fed Working Papers
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2009/27 (17 Dec 2009)
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Bank Credit and the 2008 Financial Crisis: A cross-country Comparison

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532 (Dec 2009)
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Frequency-domain analysis of debt service in a macro-finance model for the euro area.

by Jean-Paul RenneBank of France Working Papers
Nr 261 (Dec 2009)
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Added onto the Research Hub on 16.12.2009

The Microstructure of the TIPS Market

by Michael J. Fleming and Neel KrishnanNew York Fed Staff reports
414 (Dec 2009)
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Gábor Kátay - Benedek Nobilis: Driving Forces Behind Changes in the Aggregate Labour Force Participation in Hungary

by Gábor Kátay - Benedek NobilisMagyar Nemzeti Bank Working papers
2009/05 (Dec 2009)
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by Annalisa CastelliGerald P DwyerIftekhar HasanBank of Finland Discussion Papers
2009/36 (16 Dec 2009)
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Elvira Prades - Katrin Rabitsch: Capital liberalization and the US external imbalance

by Elvira Prades - Katrin RabitschMagyar Nemzeti Bank Working papers
2009/04 (Dec 2009)
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Spatial Heterogeneity and the Geographic Distribution of Airport Noise

by Jeffrey P. Cohen, and Cletus C. CoughlinSt Louis Fed Working Papers
2009-058 (Nov 2009)
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Valuing the Treasury's Capital Assistance Program

by Paul Glasserman and Zhenyu WangNew York Fed Staff reports
413 (Dec 2009)
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Estimating Demand in Search Markets: The Case of Online Hotel Bookings

by Sergei KoulayevBoston Fed Working papers
09-16 (Dec 2009)
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Conference Overview and Summary of Proceedings

by Matthew Denes, Daniel Greenwald, Nicholas Klagge, Ging Cee Ng, Jeffrey Shrader, Michael Sockin, and John SpornNew York Fed Economic policy review
0912dene (Dec 2009)

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Informational Easing: Improving Credit Conditions through the Release of Information

by Matthew PritskerNew York Fed Economic policy review
0912prit (Dec 2009)

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Who is afraid of political risk? Multinational firms and their choice of capital structure

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200902 (16 Feb 2009)

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Spillover effects of minimum wages in a two-sector search model

by Christoph Moser, Nikolai StählerDeutsche Bundesbank Discussion Papers
200901 (13 Feb 2009)

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Euroization in Central, Eastern and Southeastern Europe - New Evidence On Its Extent and Some Evidence On Its Causes

by Thomas Scheiber and Helmut StixAustrian National Bank Working Papers
WP159 (27 Nov 2009)
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A Dynamic Analysis of Consolidation in the Broadcast Television Industry

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by Zhiwei Zhang and Wenlang ZhangHong Kong Monetary Authority Working Papers
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Dynamic Hierarchical Factor Models

by Emanuel Moench, Serena Ng, and Simon PotterNew York Fed Staff reports
412 (Dec 2009)
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When Eastern Labour Markets Enter Western Europe. CEECs Labour Market Institutions upon Euro Zone Accession

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061 (Jul 2009)

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The performance of the Italian housing market and its effects on the financial system

by Fabio Panetta (coordinatore), Roberto Sabbatini, Francesco Zollino, Michele Leonardo Bianchi, Marcello Bofondi, Fabrizio Borselli, Guido Bulligan, Alessandro Buoncompagni, Mario Cappabianca, Luisa Carpinelli, Agostino Chiabrera, Francesco Columba, Guido de Blasio, Alessio D'Ignazio, Cristina Fabrizi, Carlo Gola, Federico Maria SignorettiBanca d'Italia Occasional Papers
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by Matteo Bugamelli, Riccardo Cristadoro, Giordano ZeviBanca d'Italia Occasional Papers
58 (Dec 2009)
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by Brian DePratto, Carlos de Resende, and Philipp MaierBank of Canada Working papers
2009-33 (Dec 2009)
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by Michelle L. Barnes, Fabiŕ Gumbau-Brisa, Denny Lie, and Giovanni P. OliveiBoston Fed Working papers
09-15 (Dec 2009)
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Job Separations, Heterogeneity, and Earnings Inequality

by Pedro AmaralCleveland Fed Working papers
0910 (Dec 2009)

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Investment Shocks and the Relative Price of Investment

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411 (Dec 2009)
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1134 (11 Dec 2009)

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1132 (11 Dec 2009)

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1133 (11 Dec 2009)

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1127 (11 Dec 2009)

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1126 (11 Dec 2009)

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A Simple Model of Bank Employee Compensation

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Empirical evidence from Spanish market

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by Gylfi ZoegaCentral Bank of Iceland Working Papers
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 Abstract

Survey Evidence on Customer Markets

by Ali Choudhary, Thorlakur Karlsso and Gylfi ZoegaCentral Bank of Iceland Working Papers
45 (Nov 2009)
 Abstract

Added onto the Research Hub on 09.12.2009

Leading indicators in a globalised world,

by Ferdinand Fichtner, Rasmus RĂĽffer, Bernd Schnatz,European Central Bank Working papers
1125 (09 Dec 2009)

 Full text

Forecasting Euro-area recessions using time-varying binary response models for financial.

by Christophe Bellégo and Laurent FerraraBank of France Working Papers
Nr 259 (Nov 2009)
 Abstract
 Full text

Trends and Cycles : an Historical Review of the Euro Area.

by Jean Barthélemy, Magali Marx and Aurélien PoissonnierBank of France Working Papers
Nr 258 (Nov 2009)
 Abstract
 Full text

Monetary Policy Shocks and Portfolio Choice,

by Marcel Fratzscher, Christian Saborowski, Roland Straub,European Central Bank Working papers
1122 (09 Dec 2009)

 Full text

Added onto the Research Hub on 08.12.2009

Forecast Disagreement Among FOMC Members

by Chanont Banternghansa, and Michael W. McCrackenSt Louis Fed Working Papers
2009-059 (Dec 2009)
 Abstract
 Full text

Exchange Rate Pass-through in Central and Eastern European Member States,

by John Beirne, Martin Bijsterbosch,European Central Bank Working papers
1120 (08 Dec 2009)

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Are oil price forecasters finally right? Regressive expectations toward more fundamental values of the oil price

by Stefan Reitz, Jan C. Rülke, Georg StadtmannDeutsche Bundesbank Discussion Papers
200932 (08 Dec 2009)

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Monetary Policy and the Financing of Firms,

by Fiorella De Fiore, Pedro Teles, Oreste Tristani,European Central Bank Working papers
1123 (08 Dec 2009)

 Full text

An institutional evaluation of pension funds and life insurance companies

by Dirk Broeders, An Chen and Birgit KoosNetherlands Bank DNB Working Papers
227 (Dec 2009)

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Inflation Persistence

by Jeffrey C. FuhrerBoston Fed Working papers
09-14 (Dec 2009)
 Abstract
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