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crisis. Some, but not all, are well positioned to enjoy continued convergence. Nevertheless, convergence bottlenecks are … emerging and continued reforms efforts will be needed throughout the region to remove these bottlenecks. Convergence becomes an … numbers also do so. EU membership has and will in the future potentially help convergence through several private and public …
Persistent link: https://www.econbiz.de/10014105665
We investigate the linkage between business cycle convergence and financial portfolio choice for a panel of 18 EU … financial world” has an impact on business cycles and contributes to business cycle convergence via the consumption …, similar portfolios contribute to a convergence of business cycles - via a convergence of consumption cycles. This turns out to …
Persistent link: https://www.econbiz.de/10010255115
In 1975 Niels Thygesen, together with eight other economists - one of us among them - published in The Economist a "manifesto" proposing a new common currency for Europe (Basevi et al., 1975). His co-operation on this subject was pursued within a smaller group, and resulted in the publication of...
Persistent link: https://www.econbiz.de/10014065991
The global economy is expected to grow by four percent annually over the next two years. This is a slight increase in the German Institute for Economic Research forecast in comparison to that of the fall. The upswing will gain momentum in both developed and emerging economies. Private...
Persistent link: https://www.econbiz.de/10011762790
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impact of the euro on economic convergence. The DPS method ensures a forensic examination of the diverse variable patterns … that influence cluster memberships. As with previous research conclusions, there are multiple patterns of convergence and … nominal convergence. An example is the divergence of the experience of consumer inflation between 2016 and 2022. Nevertheless …
Persistent link: https://www.econbiz.de/10014463403
Persistent link: https://www.econbiz.de/10011672408
We assess to which degree an international transfer mechanism can enhance consumption risk sharing as well as allocative efficiency and apply our results to a potential European unemployment benefit scheme (EUBS). Specifically, we first develop a simple model with nominal rigidities to build...
Persistent link: https://www.econbiz.de/10013336272
We study the link between the global financial cycle and macroeconomic tail risks using quantile vector autoregressions. Contractionary shocks to financial conditions and monetary policy in the United States cause elevated downside risks to growth around the world. By tightening financial...
Persistent link: https://www.econbiz.de/10013459721