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The Case for Reforming Euro Area Entry Criteria

Darvas, Zsolt - 2010

The global economic and financial crisis has raised further concerns about the euro-entry criteria, in addition to … price level convergence of Central and Eastern European countries, and the continuous violation of the criteria by euro … relate all criteria to the average of the euro area and simultaneously to extend the compliance period from the currently …

Persistent link: https://www.econbiz.de/10010494439

Estimating the border effect: Some new evidence

Gopinath, Gita; Gourinchas, Pierre-Olivier; Hsieh, Chang-Tai - 2009

To what extent do national borders and national currencies impose costs that segment markets across countries? To answer this question the authors use a dataset with product-level retail prices and wholesale costs for a large grocery chain with stores in the United States and Canada. They...

Persistent link: https://www.econbiz.de/10010280948

The threat of 'currency wars': A European perspective

Darvas, Zsolt; Pisani-Ferry, Jean - 2011

definition of price stability at a time of deflationary pressures. The euro's exchange rate has not been greatly impacted by the … recent currency war; the euro continues to be overvalued, but less than before. …

Persistent link: https://www.econbiz.de/10010494451

Az euró hazai bevezetésének újragondolása

Neményi, Judit; Oblath, Gábor - 2012

postponed euro-adoption until 2020 without any explanation, which is one of the motivations of our analysis. We review the … arguments formulated in 2000-2004 regarding the adoption of the euro by the profession, as well as the declarations and actual … policies pursued by successive governments during the 2000-s. The study discusses the crisis within the euro area, the …

Persistent link: https://www.econbiz.de/10010494500

Uncertainty shocks in a model of effective demand

Basu, Susanto; Bundick, Brent - 2012

This paper examines the role of uncertainty shocks in a one-sector, representative-agent dynamic stochastic general equilibrium model. When prices are flexible, uncertainty shocks are not capable of producing business cycle comovements among key macro variables. With countercyclical markups...

Persistent link: https://www.econbiz.de/10010343352

The Impact of the Crisis on Budget Policy in Central and Eastern Europe

Darvas, Zsolt - 2009

This paper describes the particular impacts of the financial and economic crisis on Central and Eastern European (CEE) countries, studies pro-cyclicality of fiscal policies, discusses the impact of the crisis on fiscal policy, and the policy response of various governments. After drawing some...

Persistent link: https://www.econbiz.de/10010494414

Institutional Reactions to the Impact of Global Crisis at Source and Destination Cities of Migration in China

Csanádi, Mária - 2010

This paper relates on the impact of global crisis on China from a systemic point of view. In what ways external and internal adaptation pressures influenced the transformation of the party-state system in China? Did reactions have an impact on the transformation of political or economic system?...

Persistent link: https://www.econbiz.de/10010494435

Adaptation pressures during global decline on system transformation and its spatial consequences in China

Csanádi, Mária - 2011

With the implementation of the approach of the Interactive Party-State model (Csan di, 2006, 2011) the paper demonstrates the possible short and long term consequences of the adaptation pressures exerted by the global crisis on Chinese system transformation. It points to the short term character...

Persistent link: https://www.econbiz.de/10010494485

Sectoral Technology and Structural Transformation

Herrendorf, Berthold; Herrington, Christopher; … - 2012

This paper assesses the importance for structural transformation of three features of sectoral technology: labor-augmenting technological progress, capital intensity, and substitutability between capital and labor. We estimate CES production functions for agriculture, manufacturing, and services...

Persistent link: https://www.econbiz.de/10010494521

Real output of bank services: What counts is what banks do, not what they own

Inklaar, Robert; Wang, J. Christina - 2011

The measurement of bank output, a difficult and contentious issue, has become even more important in the aftermath of the devastating financial crisis of recent years. In this paper, we argue that models of banks as processors of information and transactions imply a quantity measure of bank...

Persistent link: https://www.econbiz.de/10010280912