Showing 1 - 10 of 103
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
We assess the impact of oil shocks on euro-area macroeconomic variables by estimating a new-Keynesian small open economy model with Bayesian methods. Oil price is determined according to supply and demand conditions in the world oil market. We find that the impact of an increase in the price of...
Persistent link: https://www.econbiz.de/10011099725
Since the adoption of flexible exchange rates, real exchange rates have been much more volatile than they were under Bretton Woods. However, the volatilities of most other macroeconomic variables have remained approximately unchanged. This poses a puzzle for standard international business cycle...
Persistent link: https://www.econbiz.de/10005609375
We examine the growth performance of six emerging economies (Brazil, China, India, Indonesia, Russia and Turkey) in the … last two decades and examine whether domestic structural constraints are affecting their present and future growth … structural factors will weigh on potential growth, particularly the evolution of the size and quality of the labor force. …
Persistent link: https://www.econbiz.de/10011171336
from 29 to 31 March 2012. The workshop focused on the interaction between fiscal policy and growth and was organised in … relationship between government budgets and potential growth. The third session analysed the effects of taxation, regulation and … public services on growth. The last session concentrated on policies aimed at promoting sustainable growth. …
Persistent link: https://www.econbiz.de/10011277928
This paper presents an endogenous growth model with intertemporally dependent preferences and "Ak" technology. We … derive sufficient conditions for a balanced growth path to be an equilibrium, provide a full characterization of the … equilibrium dynamics of the economy, and explore the implications of habit formation for the patterns of cross-country growth and …
Persistent link: https://www.econbiz.de/10005609353
to forecast GDP growth at short-term horizons in the euro area. We discuss three sets of empirical results. First, we use …
Persistent link: https://www.econbiz.de/10011099722
slower long-term growth is due to the insufficient strengthening of trade relations in dynamic markets outside Europe …
Persistent link: https://www.econbiz.de/10011100344
The paper provides an analysis of cyclically-adjusted budget balances of local governments in Italy for the period 2002-07. We find that local government balances appear to be relatively sensitive to the business cycle. In particular, a shock of 1 per cent in GDP changes their resources by...
Persistent link: https://www.econbiz.de/10011100395
Supervisors and policy makers pay increasing attention to the possible procyclical nature of banks� behaviour. Indeed, to guarantee macro and financial stability, it is important to understand whether, and to what extent, banks are affected by the macroeconomy and second round effects...
Persistent link: https://www.econbiz.de/10005609327