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Markov or not Markov : this should be a question

Bickenbach, Frank; Bode, Eckhardt - 2001

Although it is well known that Markov process theory, frequently applied in the literature on income convergence …

Persistent link: https://www.econbiz.de/10011495597

Assessing the advantages of EMU-enlargement for the EU and the accession countries : a comparative indicator approach

Schweickert, Rainer - 2001

The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from … accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and … benefits from monetary integration. The more serious problem is a lack of convergence which could imply serious risks during …

Persistent link: https://www.econbiz.de/10011490871

Regional evidence on the finance-growth Nexus

Vaona, Andrea (contributor) - 2006

The Finance-Growth Nexus is a classical source of debate among economists. This contribution offers regional evidence on this issue in order to see if it can meet the data within a 140 years old economic union -- Italy -, in the ideal context for its main competitor - New Economic Geography -...

Persistent link: https://www.econbiz.de/10003347559

Governmental activity, integration, and agglomeration

Ott, Ingrid (contributor); Soretz, Susanne (contributor) - 2008

This paper analyzes, within a regional growth model, the impact of productive governmental policy and integration on the spatial distribution of economic activity. Integration is understood as enhancing territorial cooperation between the regions, and it describes the extent to which one region...

Persistent link: https://www.econbiz.de/10003778345

Avoiding the trap : the dynamic interaction of North-South capital mobility and technology diffusion

Hübler, Michael (contributor) - 2009

This paper analyzes a stylized model of international capital mobility and diffusion of embodied technologies from North to South. The South can fall behind in terms of technologies or get trapped in a situation, in which it is unable to attract foreign capital and embodied technologies, if its...

Persistent link: https://www.econbiz.de/10003795826

The optimal transfer of capital and embodied technologies to developing countries

Hübler, Michael (contributor); Lontzek, Thomas (contributor) - 2009

intertemporal global welfare maximization. Convergence of the growth rates of technical change in the North and South always occurs …

Persistent link: https://www.econbiz.de/10003795829

Optimal fiscal policy with labor selection

Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2016

This paper characterizes long-run and short-run optimal fiscal policy in the labor selection framework. In a calibrated non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the Ramsey government achieves efficient labor market...

Persistent link: https://www.econbiz.de/10011434257

The macroeconomic effects of fiscal consolidation in dynamic general equilibrium

Schwarzmüller, Tim; Wolters, Maik H. - 2014

We provide a systematic analysis of fiscal consolidation in a medium-scale dynamic general equilibrium model. Our results show that the choice of the consolidation instrument is very important, not only with respect to the short- and long-run output effects of the different consolidation...

Persistent link: https://www.econbiz.de/10010416675

Fiscal targeting rules and macroeconomic stability under distortionary taxation

Reicher, Claire A. - 2014 - This version: September 30, 2014

While European countries have engaged in a debate about fiscal policy rules, little is known about the ability of these rules to ensure stable debt and output paths when taxes are distortionary, particularly in a small open economy. In this situation, it turns out that the interaction between a...

Persistent link: https://www.econbiz.de/10010427960

Fiscal calculus in a New Keynesian model with matching frictions

Campolmi, Alessia; Faia, Ester; Winkler, Roland - 2010

The endorsement of expansionary fiscal packages has often been based on the idea that large multipliers can contrast rising unemployment. Is that really the case? We explore those issues in a New Keynesian model in which unemployment arises because of matching frictions. We compare fiscal...

Persistent link: https://www.econbiz.de/10003940160