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Macroeconomic effects of carbon transition policies : an assessment based on the ECB's New Area-Wide Model with a disaggregated energy sector
Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023
that increasing euro area carbon taxes to an interim target level consistent with the transition to a net-zero economy …
Persistent link: https://www.econbiz.de/10014315252
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Tracking growth in the euro area subject to a dimensionality problem
Comunale, Mariarosaria; Mongelli, Francesco Paolo - 2021
We investigate which variables have supported growth in the euro area over the last 30 years. This is a challenging task due to dimensionality problems: a large set of potential determinants, limited data, and the prospect that some variables could be non-stationary. We assemble a set of 35...
Persistent link: https://www.econbiz.de/10012625874
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …
Persistent link: https://www.econbiz.de/10003794175
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Die Wirksamkeit der Fiskalpolitik im Euro-Währungsgebiet
In: Monatsbericht / Europäische Zentralbank (2010) 7, pp. 73-92
Persistent link: https://www.econbiz.de/10003987517
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Household spending and fiscal support during theCOVID-19 pandemic : insights from a new consumer survey
Georgarakos, Dimitris; Kenny, Geoff - 2022
This paper introduces the Consumer Expectations Survey (CES), a new online, high frequency panel survey of euro area consumers' expectations and behaviour. The paper also investigates whether public perceptions about fiscal support measures introduced during the pandemic have influenced spending...
Persistent link: https://www.econbiz.de/10012818792
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The macroeconomic impact of euro area labour market reforms : evidence from a narrative panel VAR
Rünstler, Gerhard - 2021
Using new quarterly narrative evidence, this paper examines the macroeconomic impact of reforms of unemployment benefits (UB) and employment protection legislation (EPL) in the euro area from a Bayesian narrative panel VAR. The approach complements existing micro-econometric evidence by aligning...
Persistent link: https://www.econbiz.de/10012627869
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Designing QE in a fiscally sound monetary union
Bletzinger, Tilman; Thadden, Leopold von - 2018
channel is not active, the model becomes isomorphic to the canonical New Keynesian three-equation economy in which central … lower bound which replicates the equilibrium allocation and the welfare level of a hypothetically unconstrained economy …
Persistent link: https://www.econbiz.de/10011856536
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A quarterly fiscal database for the euro area based on intra-annual fiscal information
Paredes, Joan; Pedregal, Diego J.; Pérez, Javier J. - 2009
The analysis of the macroeconomic impact of fiscal policies in the euro area has been traditionally limited by the absence of quarterly fiscal data. To overcome this problem, we provide two new databases in this paper. Firstly, we construct a quarterly database of euro area fiscal variables for...
Persistent link: https://www.econbiz.de/10003969290
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Fiscal policy shocks in the euro area and the US : an empirical assessment
Burriel, Pablo; Castro, Francisco de; Garrote, Daniel - 2009
We analyse the impact of fiscal policy shocks in the euro area as a whole, using a newly available quarterly dataset of fiscal variables for the period 1981-2007. To allow for comparability with previous results on euro area countries and the US, we use a standard structural VAR framework, and...
Persistent link: https://www.econbiz.de/10003969292
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Revenue- versus spending-based consolidation plans : the role of follow-up
Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10011904377