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Offshoring, Relocation and the Speed of Convergence in the Enlarged European Union
Alho, Kari; Kaitila, Ville; Widgrén, Mika - C.E.P.R. Discussion Papers - 2008
Economic convergence of the new member states (NMS) of the EU towards the old EU countries (EU-15), not only in terms …, consumption, and labour mobility behaviour to address several other issues like welfare and sustainability in terms of foreign … indebtedness. At the same time we evaluate the impact of convergence on the EU-15 countries also, by endogenising offshoring and …
Persistent link: https://www.econbiz.de/10005136618
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Effects of Transitory Shocks to Aggregate Output on Consumption in Poor Countries
Brückner, Markus; Gradstein, Mark - C.E.P.R. Discussion Papers - 2013
This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …
Persistent link: https://www.econbiz.de/10011083244
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Mr Ricardo's Great Adventure: Estimating Fiscal Multipliers in a Truly Intertemporal Model
Bayoumi, Tamim; Sgherri, Silvia - C.E.P.R. Discussion Papers - 2006
We estimate tax multipliers in a "Blanchard-Yaari" consumption model where Ricardian equivalence is broken because the …
Persistent link: https://www.econbiz.de/10005114505
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The Wealthy Hand-to-Mouth
Kaplan, Greg; Violante, Giovanni L; Weidner, Justin - C.E.P.R. Discussion Papers - 2014
The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...
Persistent link: https://www.econbiz.de/10011084522
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Floats, pegs and the transmission of fiscal policy
Corsetti, Giancarlo; Kuester, Keith; Müller, Gernot - C.E.P.R. Discussion Papers - 2011
According to conventional wisdom, fiscal policy is more effective under a fixed than under a flexible exchange rate regime. In this paper we reconsider the transmission of shocks to government spending across these regimes within a standard new-Keynesian model of a small open economy. Because of...
Persistent link: https://www.econbiz.de/10008784752
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Spain's International Position, 1850-1913
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2009
Spain's financial position during the late 19th and early 20th century has usually been presented as one of persistent deficit on current account, which resulted from her integration into international commodity and factor markets and this, in turn, slowed down growth. In this essay a...
Persistent link: https://www.econbiz.de/10008458296
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The Cross-Country Incidence of the Global Crisis
Lane, Philip R.; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2010
We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic and financial factors. We find that the pre-crisis level of development, increases in the ratio of private credit to GDP, current account deficits,...
Persistent link: https://www.econbiz.de/10008466326
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Reserve Accumulation, Growth and Financial Crises
Benigno, Gianluca; Fornaro, Luca - C.E.P.R. Discussion Papers - 2012
order of 1% of permanent consumption equivalent. …
Persistent link: https://www.econbiz.de/10011083850
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Assessing International Efficiency
Heathcote, Jonathan; Perri, Fabrizio - C.E.P.R. Discussion Papers - 2013
part applies the methodology to the long-run allocation of capital and consumption in a large cross section of countries … systematic relation between fast growth and preference for delayed consumption. The third part applies the methodology to the …
Persistent link: https://www.econbiz.de/10011083981
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The Portuguese Slump and Crash and the Euro Crisis
Reis, Ricardo - C.E.P.R. Discussion Papers - 2013
Between 2000 and 2012, the Portuguese economy grew less than the United States during the Great Depression and less than Japan during its lost decade. This paper asks why this happened, with a particular focus on the slump between 2000 and 2007. It describes the main facts of Portugal's recent...
Persistent link: https://www.econbiz.de/10011084366