Showing 1 - 10 of 182
In this paper we look at business cycles similarities between CEE countries and the euro area. Particularly, we uncover GDP-inflation cycles by adopting a trend-cycle decomposition model which allows the trend to be either stochastic or deterministic i.e. of the non-linear type. Once cyclical...
Persistent link: https://www.econbiz.de/10010686780
We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional …
Persistent link: https://www.econbiz.de/10005530722
Not so much and we should not, at least not yet. JEL Classification: E32, C33, C53, F2, F43
Persistent link: https://www.econbiz.de/10005530759
This paper shows that the EMU has not affected historical characteristics of member countries’ business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10005002776
This study develops a new monthly euro Area‐wide Leading Indicator (ALI) for the euro area business cycle. It derives the composite ALI by applying a deviation cycle methodology with a one‐sided band pass filter and choosing nine leading series. Our main findings are that i) the applied...
Persistent link: https://www.econbiz.de/10008646312
This paper provides empirical evidence on the role played by loan supply shocks over the business cycle in the Euro Area, the United Kingdom and the United States from 1980 to 2010 by applying a time-varying parameters VAR model with stochastic volatility and identifying these shocks with sign...
Persistent link: https://www.econbiz.de/10010686799
This paper presents stylised facts about the business cycle of the euro area. The results suggest that the stylised facts for the euro area economy and the US are very similar. The magnitude of the fluctuations in consumption, investment, prices, inflation, interest rate, monetary aggregates...
Persistent link: https://www.econbiz.de/10005530940
This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...
Persistent link: https://www.econbiz.de/10008541289
productivity convergence among euro area countries. While no convergence can be found on the aggregate level, selected service … sectors and manufacturing sub-industries indicate evidence of convergence. In a search for factors influencing productivity … competitive environment, eventually facilitating economic convergence. JEL Classification: C33, O47, J24, L60, L80 …
Persistent link: https://www.econbiz.de/10010686756
integration, convergence in the European retail payments market is measured during the period 1995-2011 for the most used retail … estimating convergence are used: sigma convergence and beta convergence. There is some evidence of convergence for all payment … instruments has declined over time in Europe. The pace of convergence has picked up since the introduction of the single currency …
Persistent link: https://www.econbiz.de/10010688324