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514: Gains from international monetary policy coordination - does it pay to be different?

Zheng Liu and Evi Paraskevi Pappa

513: Does government spending crowd in private consumption? Theory and empirical evidence for the euro area

Günter Coenen and Roland Straub

512: Counterfeiting and inflation

Cyril Monnet

511: Time or state dependent price setting rules? Evidence from Portuguese micro data

Daniel Dias, Carlos Robalo Marques and João M.C. Santos Silva

510: Factor analysis in a New-Keynesian model

Andreas Beyer, Roger E. A. Farmer, Jerome Henry and Massimiliano Marcellino

509: Productivity shocks, budget deficits and the current account

Matthieu Bussiere, Marcel Fratzscher and Gernot J. Müller

508: Systemic risk in alternative payment system designs

Peter Galos and Kimmo Soramäki

507: Incorporating a “public good factor” into the pricing of large-value payment systems

Cornelia Holthausen and Jean Charles Rochet

506: Settlement finality as a public good in large-value payment systems

Henri F. Pages and David Humphrey

505: Public good issues in TARGET - natural monopoly, scale economies, network effects and cost allocation

Wilko Bolt and David Humphrey

504: Monetary policy predictability in the euro area: an international comparison

Wilhelmsen, Bjørn-Roger and Andrea Zaghini

503: World trade and global integration in production processes - a re-assessment of import demand equations

Ray Barrell and Stephane Dees

502: Fiscal and monetary rules for a currency union

Andrea Ferrero

501: Measuring comovements by regression quantiles

Lorenzo Cappiello, Bruno Gérard and Simone Manganelli

500: Fleshing out the monetary transmission mechanism - output composition and the role of financial frictions

André Meier and Gernot J. Müller

499: A trend-cycle(-season) filter

Matthias Mohr

498: Financial integration and entrepreneurial activity - evidence from foreign bank entry in emerging markets

Mariassunta Giannetti and Steven Ongena

497: Early-warning tools to forecast general government deficit in the euro area: the role of intra-annual fiscal indicators

Javier J. Pérez García

496: Estimates of the open economy New Keynesian Phillips curve for euro area countries

Fabio Rumler

495: Measuring inflation persistence - a structural time series approach

Maarten Dossche and Gerdie Everaert

494: Cross-country efficiency of secondary education provision - a semi-parametric analysis with non-discretionary inputs

Antonio Afonso and Miguel St. Aubyn

493: Optimal research in financial markets with heterogeneous private information a rational expectations model

Katrin Tinn

492: Experimental evidence on the persistence of output and inflation

Klaus Adam

491: On the fit and forecasting performance of New-Keynesian models

Marco Del Negro, Frank Schorfheide, Frank Rafael Smets and Raf Wouters

490: Unions, wage setting and monetary policy uncertainty

Hans Peter Grüner, Bernd Hayo and Carsten Hefeker

489: Persistence and nominal inertia in a generalized Taylor economy - how longer contracts dominate shorter contracts

Huw David Dixon and Engin Kara

488: Communication and decision-making by central bank committees - different strategies, same effectiveness?

Michael Ehrmann and Marcel Fratzscher

487: Computing second-order-accurate solutions for rational expectation models using linear solution methods

Giovanni Lombardo and Alan Sutherland

486: What drives productivity growth in the new EU member states? The case of Poland

Marcin Kolasa

485: Corporate investment and cash flow sensitivity - what drives the relationship?

Paul Mizen and Philip Vermeulen

484: Fiscal federalism and public inputs provision - vertical externalities matter

Diego Martínez

483: Money supply and the implementation of interest rate targets

Andreas Schabert

482: Forecasting macroeconomic variables for the new member states of the European Union

Anindya Banerjee, Massimiliano Marcellino and Igor Masten

481: Output and inflation responses to credit shocks - are there threshold effects in the euro area?

Alessandro Calza and João Sousa

480: Insurance policies for monetary policy in the euro area

Keith Küster and Volker Wieland

479: The performance and robustness of interest-rate rules in models of the euro area

Ramón Adalid, Günter Coenen, Peter McAdam and Stefano Siviero

478: The conquest of U.S. inflation: learning and robustness to model uncertainty

Timothy Cogley and Thomas Sargent

477: Parameter misspecification and robust monetary policy rules

Carl Walsh

476: Monetary policy with judgment - forecast targeting

Lars E.O. Svensson

475: Monetary policy analysis with potentially misspecified models

Marco Del Negro and Frank Schorfheide

474: Calvo pricing and imperfect common knowledge - a forward looking model of rational inflation inertia

Kristoffer P. Nimark

473: Fiscal consolidations in the Central and Eastern European countries

Antonio Afonso, Christiane Nickel and Philipp Rother

472: Yield curve prediction for the strategic investor

Carlos Bernadell, Joachim Coche and Ken Nyholm

471: Real wages and local unemployment in the euro area

Anna Sanz de Galdeano and Jarkko Turunen (Anna Sanz-de-Galdeano)

470: Structural filters for monetary analysis - the inflationary movements of money in the euro area

Annick Bruggeman, Camba-Méndez, Gonzalo, Björn Fischer and João Sousa

469: Money and prices in models of bounded rationality in high inflation economies

Albert Marcet and Juan Pablo Nicolini

468: Endogeneities of optimum currency areas - what brings countries sharing a single currency closer together?

Paul De Grauwe and Francesco Paolo Mongelli

467: Socio-economic development and fiscal policy - lessons from the cohesion countries for the new member states

Aaron Nikolai Mehrotra and Tuomas Antero Peltonen

466: Regulated and services’ prices and inflation persistence

Patrick Lünnemann and Thomas Mathä

465: Determinants and consequences of the unification of dual-class shares

Anete Pajuste