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Most EU member states will adopt fiscal rules that refer to cyclically-adjusted borrowing limits. Under the standard cyclical adjustment procedure, trend increases in public debt based on cyclical components are prevented if the real-time output gaps used to calculate cyclical components balance...
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the estimation results, two currencies, the Swiss franc and (to a lesser extent) the US dollar qualify as safe haven …
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constrained estimation produces a quantitative model with both reasonable asset-pricing as well as business-cycle implications. …
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modelling approach and estimation results for the trade submodels are presented in some detail and simmulation results for the …
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