Similar Search Results

The Aftermath of the 1992 ERM Breakup : Was There a Macroeconomic Free Lunch?

Gordon, Robert J. - 1999

This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about...

Persistent link: https://www.econbiz.de/10012471843

Do Enlarged Fiscal Deficits Cause Inflation : The Historical Record

Bordo, Michael D. - 2020

In this paper we survey the historical record for over two centuries on the connection between expansionary fiscal policy and inflation. As a backdrop, we briefly lay out several theoretical approaches to the effects of fiscal deficits on inflation: the earlier Keynesian and monetarist...

Persistent link: https://www.econbiz.de/10012482414

Stochastic Growth in the United States and Euro Area

Ireland, Peter N. - 2011

This paper estimates, using data from the United States and Euro Area, a two-country stochastic growth model in which both neutral and investment-specific technology shocks are nonstationary but cointegrated across economies. The results point to large and persistent swings in productivity, both...

Persistent link: https://www.econbiz.de/10012461976

Automatic Stabilizers and Economic Crisis : US vs. Europe

Dolls, Mathias - 2010

income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic …

Persistent link: https://www.econbiz.de/10012462382

Fiscal and Migration Competition

Razin, Assaf - 2010

The paper models the host country stylistically as a member of the core of an economic union (i.e., a core EU welfare …. The source country is modeled as an accession country to an economic union (i.e., through the EU enlargement treaty), with …

Persistent link: https://www.econbiz.de/10012462431

Further Comments on The Impact of the Asian Miracle on the Theory of Economic Growth

Fogel, Robert W. - 2010

This paper addresses three issues related to the relative rates of growth in the United States, the European Union, and China during the four decades between 2000 and 2040. The first concerns the source of the factors which make it likely that China will continue to grow at a high rate for...

Persistent link: https://www.econbiz.de/10012462930

Business Cycles in the Euro Area

Giannone, Domenico - 2008

This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...

Persistent link: https://www.econbiz.de/10012464118

On Current Account Surpluses and the Correction of Global Imbalances

Edwards, Sebastian - 2007

In this paper I analyze the nature of external adjustments in current account surplus countries. I ask whether a realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve the current situation of global imbalances. The main...

Persistent link: https://www.econbiz.de/10012465752

The Effects of the Ageing European Population on Economic Growth and Budgets : Implications for Immigration and Other Policies

Feldstein, Martin S. - 2006

The ageing of the population presents a major fiscal challenge for the countries of Europe. The combination of increased longevity and a reduced birth rate will directly reduce the growth rates of the European economies by slowing the growth of the capital stock and by weakening the productivity...

Persistent link: https://www.econbiz.de/10012465924

Vying for Foreign Direct Investment : A EU-type Model of Tax Competition

Razin, Assaf - 2006

among the EU 15 and EU 10 in the enlarged European Union, as of 2004. We also demonstrate that the notion that the mere …

Persistent link: https://www.econbiz.de/10012466680