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This paper aims at clarifying, with the help of a simple formal model and numerical examples,...

The entire difference between a mild downturn and a devastating crisis is the occurrence of sharp...

Empirically, output and asset returns are highly positively correlated across the United States...

There is little empirical evidence to support the claim that public spending improves education...

The carbon tax is a major instrument for curbing greenhouse gas emissions that cause global...

The IMF was established in 1944 in part to "give confidence" to member countries by providing...