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Boldrin, Michele; Canova, Fabio - C.E.P.R. Discussion Papers - 2003

examines what is the best way for candidate countries to fuel real convergence. The experience from earlier EU enlargements and … should be terminated as soon as possible. Second, labour and capital mobility are good for growth and economic convergence …

Persistent link: https://www.econbiz.de/10005789211

The Poor Stay Poor: Non-Convergence Across Countries and Regions

Canova, Fabio; Marcet, Albert - C.E.P.R. Discussion Papers - 1995

We study the issue of income convergence across countries and regions with a Bayesian model which allows us to use … information in an efficient and flexible way. We argue that the very slow convergence rates to a common level of per-capita income … introduces in the results. Our approach permits the estimation of different convergence rates to different steady states for each …

Persistent link: https://www.econbiz.de/10005067447

The Structural Dynamics of US Output and Inflation: What Explains the Changes?

Canova, Fabio; Gambetti, Luca; Pappa, Evi - C.E.P.R. Discussion Papers - 2006

We examine the dynamics of US output and inflation using a structural time varying coefficient VAR. We show that there are changes in the volatility of both variables and in the persistence of inflation. Technology shocks explain changes in output volatility, while a combination of technology,...

Persistent link: https://www.econbiz.de/10005666833

Monetary Policy in the Euro Area: Lessons from Five Years of ECB and Implications for Turkey

Canova, Fabio; Favero, Carlo A. - C.E.P.R. Discussion Papers - 2005

We examine monetary policy in the euro area from both theoretical and empirical perspectives. We discuss what theory tells us the strategy of Central banks should be and contrasts it with the one employed by the ECB. We review accomplishments (and failures) of monetary policy in the euro area...

Persistent link: https://www.econbiz.de/10005791458

Crossing the Rio Grande: Migrations, Business Cycles and the Welfare State

Canova, Fabio; Ravn, Morten O - C.E.P.R. Discussion Papers - 1998

This paper studies the macroeconomic effects of an inflow of low-skilled workers into an economy where there is capital accumulation, endogenous labour supply and heterogeneous workers. We find substantial dynamic effects, with adjustments that resemble those triggered by a sudden disruption of...

Persistent link: https://www.econbiz.de/10005791967

The structural dynamics of US output and inflation: What explains the changes?

Gambetti, Luca; Pappa, Evi; Canova, Fabio - Department of Economics and Business, Universitat … - 2005

Persistent link: https://www.econbiz.de/10005704979

The structural dynamics of output growth and inflation: some international evidence

Canova, Fabio; Gambetti, Luca; Pappa, Evi - Department of Economics and Business, Universitat … - 2006

We examine the dynamics of output growth and inflation in the US, Euro area and UK using a structural time varying coefficient VAR. There are important similarities in structural inflation dynamics across countries; output growth dynamics differ. Swings in the magnitude of inflation and output...

Persistent link: https://www.econbiz.de/10005708005

Do expectations matter? The Great Moderation revisited

Canova, Fabio; Gambetti, Luca - Department of Economics and Business, Universitat … - 2007

We examine the role of expectations in the Great Moderation episode. We derive theoretical restrictions in a New-Keynesian model and test them using measures of expectations obtained from survey data, the Greenbook and bond markets. Expectations explain the dynamics of inflation and of interest...

Persistent link: https://www.econbiz.de/10005827517

Monetary policy in the Euro area: Lessons from 5 years of ECB and implications for Turkey

Canova, Fabio; Favero, Carlo - Department of Economics and Business, Universitat … - 2005

We examine monetary policy in the Euro area from both theoretical and empirical perspectives. We discuss what theory tells us the strategy of Central banks should be and contrasts it with the one employed by the ECB. We review accomplishments (and failures) of monetary policy in the Euro area...

Persistent link: https://www.econbiz.de/10005772487

Crossing the Rio Grande: Migrations, business cycles and the welfare state

Ravn, Morten O.; Canova, Fabio - Department of Economics and Business, Universitat … - 1997

In this paper we study the macroeconomic effects of an inflow of low-skilled workers into an economy where there is capital accumulation and two types of agents. We find that there are substantial dynamic effects following unexpected migrations with adjustments that resemble those triggered by a...

Persistent link: https://www.econbiz.de/10005772549