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Should We Worry About the Fiscal Numerology of Maastricht?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1992

fiscal convergence criteria written into the Treaty of Maastricht and its Protocols. In order to qualify for full membership …

Persistent link: https://www.econbiz.de/10005123517

Is Eastern Europe ready for the Euro? A Cointegration Analysis for the Maastricht Criteria

Meister, I.S. - de Nederlandsche Bank - 2002

This report documents the results of cointegration analyses of the degree of convergence which the economies of the … analysis is that most of the countries in the first group entering the EU have achieved a considerable degree of convergence … the EU in the more distant future, turn out to be lagging behind in the convergence process. …

Persistent link: https://www.econbiz.de/10005021863

Convergence and Anchoring of Yield Curves in the Euro Area

Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - C.E.P.R. Discussion Papers - 2007

We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional …

Persistent link: https://www.econbiz.de/10005067658

Regional Policy Evaluation: Interactive Fixed Effects and Synthetic Controls

Gobillon, Laurent; Magnac, Thierry - Institute for the Study of Labor (IZA) - 2013

In this paper, we investigate the use of interactive effect or linear factor models in regional policy evaluation. We contrast treatment effect estimates obtained by Bai (2009)'s least squares method with the popular difference in difference estimates as well as with estimates obtained using...

Persistent link: https://www.econbiz.de/10010884250

The Dynamics of Local Employment in France

Combes, Pierre-Philippe; Magnac, Thierry; Robin, Jean-Marc - C.E.P.R. Discussion Papers - 2003

This Paper studies the impact of local economic structure on local sectoral employment growth. Local employment growth is decomposed into ‘internal’ growth (the growth of the size of existing plants) and ‘external’ growth (the creation of new plants). Using panel data methods, we...

Persistent link: https://www.econbiz.de/10005123625

Is a Two-speed System in Europe the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control?

Demertzis, Maria; Hughes Hallett, Andrew - C.E.P.R. Discussion Papers - 1996

the convergence criteria will be able to adopt a single currency, while the remaining peripheral countries will continue … to use their national monetary instrument until monetary convergence is attained. In this paper we accept the core …

Persistent link: https://www.econbiz.de/10005124078

Relative Prices and Economic Adjustment in the US and EU: A Real Story About European Monetary Union

Bayoumi, Tamim; Thomas, Alun - C.E.P.R. Discussion Papers - 1994

Structural vector autoregressions are used to analyse the relationship between real output and relative prices within the European Union (EU) and the United States. Relative price variability appears to be more important for adjustment within the EU than the United States, reflecting the lower...

Persistent link: https://www.econbiz.de/10005067643

Relaxing Hukou: Increased labor mobility and China’s Economic Geography

Bosker, Maarten; Brakman, Steven; Garretsen, Harry; … - C.E.P.R. Discussion Papers - 2010

China’s Hukou system poses severe restrictions on labor mobility. This paper assesses the consequences of relaxing these restrictions for China’s internal economic geography. We base our analysis on a new economic geography model. First, we obtain estimates of the important model parameters...

Persistent link: https://www.econbiz.de/10008784749

Testing the Home Market Effect in a Multi-Country World: The Theory

Behrens, Kristian; Lamorgese, Andrea; Ottaviano, Gianmarco - C.E.P.R. Discussion Papers - 2004

We extend the model by Krugman (1980) to a multi-country set-up and show that the ‘home-market effect’ highlighted with two countries does not readily extend to such a general setting. In particular, we prove that the most important result, namely the disproportionate causation from demand...

Persistent link: https://www.econbiz.de/10005114440

Agglomeration,Trade and Selection

Ottaviano, Gianmarco - C.E.P.R. Discussion Papers - 2012

This paper studies how firm heterogeneity in terms of productivity affects the balance between agglomeration and dispersion forces in the presence of pecuniary externalities through a selection model of monopolistic competition with endogenous markups. It shows that firm heterogeneity matters....

Persistent link: https://www.econbiz.de/10011083916