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The Macroeconomic Costs and Benefits of the EMU and other Monetary Unions: An Overview of Recent Research
Beetsma, Roel; Giuliodori, Massimo - C.E.P.R. Discussion Papers - 2009
. We are primarily interested in Europe’s monetary union. Given that unification entails the loss of a policy instrument … discussion of monetary unification outside Europe. The cost-benefit trade-off of unification may differ substantially between …
Persistent link: https://www.econbiz.de/10008477181
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Is the Euro Sustainable?
Wickens, Michael R. - C.E.P.R. Discussion Papers - 2007
It is widely recognised that the "one-size-fits-all" monetary policy of the euro-zone is a potential problem. How much … of a problem has not been much investigated. It is argued in this paper that it may result in the euro not being … competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to …
Persistent link: https://www.econbiz.de/10005789110
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MACRO-ECONOMETRIC MODELS OF SUPPLY AND DEMAND: INDUSTRY, TRADE AND WAGES IN 6 COUNTRIES, 1960-2012
Guisan, M.C. - In: Applied Econometrics and International Development 13 (2013) 2, pp. 45-56
We analyse the impact of industry on non industrial production, as well as its effect on wages and employment in 6 OECD countries: France, Germany, Italy, Spain, the United Kingdom and the United States for the period 1960-2012. Our approach to macro-econometric modelling have into account both...
Persistent link: https://www.econbiz.de/10010748308
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The 2008-09 Crisis in Turkey : Performance, Policy Responses and Challenges for Sustaining the Recovery
Rawdanowicz, Lukasz - 2010
Turkey is recovering from its most severe recession in several decades. The massive contraction in GDP is largely explained by the unprecedented collapse in foreign demand, which was aggravated in Turkey by negative confidence effects and structural problems with competitiveness prior to the...
Persistent link: https://www.econbiz.de/10012446874
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Chapter 22 Political economics and macroeconomic policy
Persson, Torsten; Tabellini, Guido - In: Handbook of macroeconomics : volume 1, part C, (pp. 1397-1482). 1999
This chapter surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three...
Persistent link: https://www.econbiz.de/10014024218
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The Effects of EMU on Structural Reforms in Labour and Product Markets
Duval, Romain; Elmeskov, Jørgen - Economics Department, Organisation de Coopération et … - 2005
Structural reforms in labour and product markets are required in a number of euro-area countries. A question in this … regard, which is the topic of this paper, is whether belonging to the euro area tends to help or hinder structural reform … the decade since 1993 between euro-area countries and other OECD countries. Overall, euro-area countries appear to have …
Persistent link: https://www.econbiz.de/10005045886
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How to Sustain Growth in a Resource Based Economy? : The Main Concepts and their Application to the Russian Case
Ahrend, Rudiger - 2006
In recent years economists have come to see rich natural resource endowments as a ?curse? or ?precious bane? that inevitably undermines development and slows economic growth. Resource-based development undeniably involves important risks. Nonetheless, the resource curse - if it exists - is at...
Persistent link: https://www.econbiz.de/10012444649
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Accounting for Russia's Post-Crisis Growth
Ahrend, Rudiger - 2004
This paper provides an in depth analysis of Russia’s recent growth, with a view to understanding the prospects for its continuation. It examines in detail the main drivers of growth, as well as the main developments and policies that have been underlying it. A key finding is that the role of...
Persistent link: https://www.econbiz.de/10012445229
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How to Sustain Growth in a Resource Based Economy?: The Main Concepts and their Application to the Russian Case
Ahrend, Rudiger - Economics Department, Organisation de Coopération et … - 2006
In recent years economists have come to see rich natural resource endowments as a ?curse? or ?precious bane? that inevitably undermines development and slows economic growth. Resource-based development undeniably involves important risks. Nonetheless, the resource curse - if it exists - is at...
Persistent link: https://www.econbiz.de/10005045957
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Accounting for Russia's Post-Crisis Growth
Ahrend, Rudiger - Economics Department, Organisation de Coopération et … - 2004
This paper provides an in depth analysis of Russia’s recent growth, with a view to understanding the prospects for its continuation. It examines in detail the main drivers of growth, as well as the main developments and policies that have been underlying it. A key finding is that the role of...
Persistent link: https://www.econbiz.de/10005049019