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The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the diffi culties … European banking system and disappointing growth prospects in the euro area periphery. To make matters even worse, these … fundamental doubts over its integrity. To overcome this systemic crisis, it would not be sufficient, if only the stronger euro …
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This paper analyzes whether immigrant families facing credit constraints adopt a family investment strategy wherein, upon arrival, an immigrant spouse invests in host country-specific human capital while the other partner works to finance the family's current consumption. Using data for West...
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In this paper we argue that future inflation in an economy depends on the way people perceive current inflation, their inflation sentiment. We construct some simple measures of inflation sentiment which capture whether price acceleration is shared by many components of the CPI basket. In a...
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