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-37. In this time period, real wages were countercyclical, and productivity and fiscal policy was procyclical. We use the … in productivity and fiscal policy were also important for the decline and recovery. Even though our analysis is limited …
Persistent link: https://www.econbiz.de/10005091006
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The paper employs a structural vector auto-regression (SVAR) along the lines of Blanchard and Quah (1989) and Clarida and Gali (1994) to identify the sources of changes in German international price competitiveness over the past 30 years. This leads to a separation of the driving forces of the...
Persistent link: https://www.econbiz.de/10012446989
Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic integration which has lead to the development of a dynamic supply chain within Europe—the Germany-Central European Supply Chain (GCESC). Model-based simulations suggest two key...
Persistent link: https://www.econbiz.de/10011264218
The euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...
Persistent link: https://www.econbiz.de/10010701878
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the End of theof the 1960s to the early 1980s -- Chapter 4. The Inflation Wave from the Late 1960s onward -- Chapter 5 …In light of the resurgence of inflation in developed industrialised countries following a period of inordinately low … inflation, this book analyses the causes and devastating effects of inflation by drawing lessons from the past. Focusing on the …
Persistent link: https://www.econbiz.de/10014470301
This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the … associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German … inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal …
Persistent link: https://www.econbiz.de/10013520991
Persistent link: https://www.econbiz.de/10003394658
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