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Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic
The paper first describes how the Czech National Bank (CNB) moved gradually from a fixed exchange rate regime to the frontiers of Inflation-Forecast T...
A Welfare-Based Approach
It is widely agreed that a fiscal rule should boost discipline and credibility, reduce macroeconomic volatility, and be easily understood. To support ...
Are We Fretting too Much? Household Saving and Assets in the United States
Household savings rates in the United States have recently crept up from all-time lows. Some have suggested that a shift toward frugality will hamper ...
A Vector Autoregression Approach for Brazil, Mexico, and Turkey
This paper examines the sustainability of fiscal policy under uncertainty in three emerging market countries, Brazil, Mexico, and Turkey. For each cou...