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Costs and Benefits of Euro Adoption in Bulgaria

Ganev, Georgy - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

This study presents a cost-benefit analysis of euro adoption for the case of Bulgaria. Based on a review of existing similar studies for other East European EU member states, it outlines the basic types of potential costs and benefits of euro adoption, and applies them to the specific Bulgarian...

Persistent link: https://www.econbiz.de/10010661274

Costs and Benefits of Euro Adoption in Bulgaria

Ganev, Georgy - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

Persistent link: https://www.econbiz.de/10010783952

Fiscal Spillovers in the Euro Area

Caporale, Guglielmo Maria; Girardi, Alessandro - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011

This paper analyses the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global VAR, or GVAR) using quarterly data for the EMU period...

Persistent link: https://www.econbiz.de/10009325377

Global Liquidity and Commodity Prices: A Cointegrated VAR Approach for OECD Countries

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

This paper examines the interactions between money, consumer prices and commodity prices at a global level from 1970 to 2008. Using aggregated data for major OECD countries and a cointegrating VAR framework, we are able to establish long run and short run relationships among these variables...

Persistent link: https://www.econbiz.de/10005068989

Monetary Policy, Global Liquidity and Commodity Price Dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this …

Persistent link: https://www.econbiz.de/10008636404

Structural Unemployment and the Output Gap in Germany: Evidence from an SVAR Analysis within a Hysteresis Framework

Fritsche, Ulrich; Logeay, Camille - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002

The German unemployment rate shows strong signs if non-stationarity over the course of the previous decades. This is in line with an insider-outsider model under full hysteresis. We applied a "theory-guided view" to the data using the structural VAR model as developed by Balmaseda, Dolado and...

Persistent link: https://www.econbiz.de/10005068660

Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10005069067

Is Euro Area Money Demand (Still) Stable?: Cointegrated VAR versus Single Equation Techniques

Belke, Ansgar; Czudaj, Robert - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...

Persistent link: https://www.econbiz.de/10008555901

Modelling Inflation Dynamics in Transition Economies: The Case of Ukraine

Siliverstovs, Boriss; Bilan, Olena - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2005

The paper explores dynamics of inflation in Ukraine in the period of relative macroeconomic stability. The analysis of … interrelationship between inflation, money growth, wage growth, and a proxy for devaluation expectations is based on impulse responses … the most important factor driving price development, while money supply growth has negligible impact on inflation. In …

Persistent link: https://www.econbiz.de/10005068693

Does the Dispersion of Unit Labor Cost Dynamics in the EMU Imply Long-Run Divergence?: Results from a Comparison with the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007

inflation convergence using different approaches, namely panel unit root tests, co-integration tests and error-correction models …

Persistent link: https://www.econbiz.de/10005068787

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