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this literature but rather to implement a calculation method of multipliers which is suitable for open economies like EU … multiplier for EU members. Multipliers for specific spending categories are comparably high, ranging between 1.4 and 1.8 for many … members of the EU. GDP drops due to budget consolidation might therefore be substantial if monetary policy is not able to …
Persistent link: https://www.econbiz.de/10009126063
In recent decades, the international division of labor expanded rapidly in course of globalization. In this context, highly developed countries specialized on (human) capital intensively manufactured goods and increasingly sourced parts and components from lowwage countries. Since this should be...
Persistent link: https://www.econbiz.de/10009126526
Der Beitrag untersucht den realen Konvergenzprozess in den neuen Mitgliedstaaten der EU (NMS), die nach ihrer … Transformation von der Plan- zur Marktwirtschaft 2004 bzw. 2007 in die EU aufgenommen wurden. Im Gegensatz zu den üblichen …
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The paper analyses vertical intra-industry trade between EU and Accession countries, and concentrates on two country …
Persistent link: https://www.econbiz.de/10003356781
Are financial markets efficient? One proposition that seems to contradict this is Shiller's finding of excess volatility in asset prices and its resulting rejection of the discounted cash flow model. This paper replicates Shiller's approach for a different data set and extends his analysis by...
Persistent link: https://www.econbiz.de/10003359631
We study the impact of higher capital requirements on banks' balance sheets and its transmission to the real economy. The 2011 EBA capital exercise provides an almost ideal quasi-natural experiment, which allows us to identify the effect of higher capital requirements using a...
Persistent link: https://www.econbiz.de/10011570578