 | International Taxation and Luxembourg's Economy Author/Editor: Ruud A de Mooij, Dinar Prihardini, Antje Pflugbeil, Emil Stavrev. Release Date:November, 2020 Luxembourg receives ample investment from multinational corporations, in part due to some attractive features in its international tax rules. Around 95 percent of these foreign investments pass more...
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 | Trade Tensions, Global Value Chains, and Spillovers : Insights for Europe Author/Editor: Raju Huidrom, Nemanja Jovanovic, Carlos Mulas-Granados, Laura Papi, Faezeh Raei, Emil Stavrev, Philippe Wingender. Release Date:June, 2019 Europe is deeply integrated into global value chains and recent trade tensions raise the question of how European economies would be affected by the introduction of tariffs or other trade barriers. more...
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| News and Monetary Shocks at a High Frequency: A Simple Approach Author/Editor: Troy Matheson, Emil Stavrev. Release Date:September, 2014 We develop a simple approach to identify economic news and monetary shocks at a high frequency. The approach is used to examine financial market developments in the United States following the more...
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| The Great Recession and the Inflation Puzzle Author/Editor: Troy Matheson, Emil Stavrev. Release Date:May, 2013 Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been remarkably stable. We find that a traditional Phillips curve describes the more...
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| Euro Area Monetary Policy in Uncharted Waters Author/Editor: Emil Stavrev, Thomas Harjes, Martin Cihak. Release Date:August, 2009 We analyze the European Central Bank's (ECB's) response to the global financial crisis. Our results suggest that even during the crisis, the core part of ECB's monetary policy transmission-from more...
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| Current Accounts in a Currency Union Author/Editor: Jörg Decressin, Emil Stavrev. Release Date:June, 2009 A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member states. This paper finds that divergences more...
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| Forces Driving Inflation in the New EU10 Members Author/Editor: Emil Stavrev. Release Date:March, 2009 The paper analyzes the forces driving inflation in the new EU10 member countries. A significant part of headline inflation in these countries is due to common factors, such as price level convergence more...
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| The Information Content of Money in Forecasting Euro Area Inflation Author/Editor: Emil Stavrev, Helge Berger. Release Date:July, 2008 This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance more...
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| The ECB’s Monetary Analysis Revisited Author/Editor: Helge Berger, Thomas Harjes, Emil Stavrev. Release Date:July, 2008 Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for money, surveying the ongoing theoretical and empirical debate. The key conclusion more...
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| Growth and Inflation Dispersions in EMU : Reasons, the Role of Adjustment Channels, and Policy Implications Author/Editor: Emil Stavrev. Release Date:July, 2007 This paper's analysis of growth and inflation dispersions in the euro area reveals several findings. First, these dispersions have declined appreciably since EMU; remaining dispersions are small but more...
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