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Does Global Liquidity Matter for Monetary Policy in the Euro Area?
Berger, Helge - 2009
Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the … euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for … longer-term interest rate and output effects. We find that especially excess liquidity in the U.S. leads developments in euro …
Persistent link: https://www.econbiz.de/10012764551
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Does Global Liquidity Matter for Monetary Policy in the Euro Area?
Berger, Helge - 2009
Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the … euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for … longer-term interest rate and output effects. We find that especially excess liquidity in the U.S. leads developments in euro …
Persistent link: https://www.econbiz.de/10014404266
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Labor and Product Market Deregulation; Partial, Sequential, or Simultaneous Reform?
Berger, Helge; Danninger, Stephan - International Monetary Fund (IMF) - 2005
This study explores the effects of labor and product market deregulation on employment growth. Our empirical results, based on an OECD country panel from 1990-2004, suggest that lower levels of product and labor market regulation foster employment growth, including through sizable interaction...
Persistent link: https://www.econbiz.de/10005769319
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Fiscal indulgence in Central Europe: loss of the external anchor?
Berger, Helge; Kopits, George; Székely, István P. - 2006
In recent years, fiscal performance in Central Europe has steadily deteriorated, in contrast to the improvement in the Baltics. This paper explores the determinants of such differences among countries on the path to EU accession. Regression estimates suggest that economic and institutional...
Persistent link: https://www.econbiz.de/10010299100
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What determines fiscal policy? Evidence from German states
Berger, Helge; Holler, Anika - 2007
This paper explores the factors behind the time path of real spending and revenue in the West German states from 1975 to 2004. The empirical approach stresses robustness and takes into account a large set of economic and political variables. Our results suggest that common economic factors and,...
Persistent link: https://www.econbiz.de/10010299142
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The end of stability and growth pact?
Haan, Jakob de; Berger, Helge; Jansen, David-Jan - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10009303518
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The end of the stability and growth pact?
Haan, Jakob de; Berger, Helge; Jansen, David-Jan - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10011404430
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Fiscal indulgence in Central Europe : loss of the external anchor?
Berger, Helge; Kopits, György; Székely, István P. - 2004
Persistent link: https://www.econbiz.de/10002104807
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The end of the stability and growth pact
Haan, Jakob de; Berger, Helge; Jansen, David-Jan - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10001905436
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Fiscal Indulgence in Central Europe : Loss of the External Anchor?
Berger, Helge - 2006
In recent years, fiscal performance in Central Europe has steadily deteriorated, in contrast to the improvement in the Baltics. This paper explores the determinants of such differences among countries slated for EU accession. Regression estimates suggest that economic and institutional...
Persistent link: https://www.econbiz.de/10012783202