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The European Central Bank’s Monetary Policy Announcement Effect on the Exchange Rate in the Effective Lower Bound Era

By Raisa Khadija Muhtar, University of St. Andrews -- Using a high-frequency event study of the European Central Bank’s (ECB) monetary policy announcements for both the “Press Release” event window and “Press Conference” event window, this paper observes an increasing sensitivity of exchange rate response to monetary policy announcements windows over the period of 2002 to 2019.

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BLOG: One Solution to Two Problems: Solving Federal Debt and the Climate Problem through a Human-Oriented Carbon Tax

By Shreyansh Budhia, The George Washington University -- Carbon taxes, or the taxation of greenhouse gas emissions, have been touted as a solution to rein in both climate change and the ballooning U.S. national debt. Carbon tax proposals also maintain many free market principles and have found support even among some fiscal conservatives.

Macroeconomics

BLOG: Three Gap Analysis of Macroeconomic Consistency: A Case Study of the Ecuadorian Economy

By Juan Andres Mesias, The George Washington University -- This paper studies the macroeconomic consistency of the Ecuadorian economy from 2007- 2016. Initially, the paper develops a Three-Gap Model to carry out a basic consistency check on all three macroeconomic accounts, public, private and current accounts.

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BLOG: How Price and Non-Price Incentives Affect California Water Demand

By Christopher Deranian, University of Maryland, College Park -- Over the past two decades, drought conditions in California have repeatedly threatened freshwater security in the state. Since Governor Jerry Brown declared a state of emergency in 2014, a variety of policies have been enacted to promote water conservation.