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Sudden Stop: When Did Firms Anticipate the Potential Consequences of COVID-19?
COVID-19 hit firms by surprise. In a high frequency, representative panel of German firms, the business outlook declined and business uncertainty increased only at the time when... -
Thoughts on a Fiscal Union in EMU
Using an estimated large-scale New-Keynesian model, we assess the consequences of introducing a fiscal union within EMU. We differentiate between three different scenarios:...
