Similar Search Results

Designing Fiscal and Monetary Institutions for a European Monetary Union

Beetsma, Roel; Bovenberg, A Lans - C.E.P.R. Discussion Papers - 1995

EMU increases with convergence of structural and fiscal policies, small money holdings, a conservative European Central …

Persistent link: https://www.econbiz.de/10005792461

Spatial Agglomeration Dynamics

Quah, Danny - C.E.P.R. Discussion Papers - 2002

geography. The same economic forces influence simultaneously growth, convergence, and spatial agglomeration and clustering …

Persistent link: https://www.econbiz.de/10005136721

Galton's Fallacy and Tests of the Convergence Hypothesis

Quah, Danny - C.E.P.R. Discussion Papers - 1993

Recent tests for the convergence hypothesis derive from regressing average growth rates on initial levels: a negative … initial level coefficient is interpreted as convergence. These tests turn out to be plagued by Francis Galton's classical … direct empirics used here show a tendency for divergence, rather than convergence, of cross-country incomes. …

Persistent link: https://www.econbiz.de/10005791236

Cross-Country Growth Comparison: Theory to Empirics

Quah, Danny - C.E.P.R. Discussion Papers - 1999

This paper reviews the cross-country record of economic growth, using as organizing framework how economic theory has guided that empirical analysis. The paper argues that recent studies of economic growth - both empirical and theoretical - distinguish from previous work in three distinct ways:...

Persistent link: https://www.econbiz.de/10005792232

Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs

Quah, Danny - C.E.P.R. Discussion Papers - 1997

peaks’ in the cross-sectional distribution, not simple patterns of convergence or divergence. The theoretical problems …

Persistent link: https://www.econbiz.de/10005792305

Convergence Empirics Across Economies with (Some) Capital Mobility

Quah, Danny - C.E.P.R. Discussion Papers - 1994

study of the convergence hypothesis. The data show limited intra-distribution mobility in incomes across economies and thus …, little convergence. The analysis uncovers some `convergence club'-like dynamics, and reveals the wide diversity in growth …

Persistent link: https://www.econbiz.de/10005661869

The Weightless Economy in Economic Development

Quah, Danny - C.E.P.R. Discussion Papers - 1999

Can the increasing significance of knowledge-products in national income---the growing weightless economy---influence economic development? Those technologies reduce ``distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows...

Persistent link: https://www.econbiz.de/10005791375

Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe

Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015

Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...

Persistent link: https://www.econbiz.de/10011252616

Fiscal Foresight and the Effects of Goverment Spending

Forni, Mario; Gambetti, Luca - C.E.P.R. Discussion Papers - 2010

We study the effects of government spending by using a structural, large dimensional, dynamic factor model. We find that the government spending shock is non-fundamental for the variables commonly used in the structural VAR literature, so that its impulse response functions cannot be...

Persistent link: https://www.econbiz.de/10008468535

The Optimality of a Monetary Union Without a Fiscal Union

Beetsma, Roel; Bovenberg, A Lans - C.E.P.R. Discussion Papers - 1998

The paper explores the case for monetary and fiscal unification. Monetary policy suffers from an inflation bias because the monetary authorities are not able to commit. With international risk-sharing in a fiscal union, fiscal discipline suffers from moral hazard. An inflation target alleviates...

Persistent link: https://www.econbiz.de/10005123736