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How flexible are real wages in EU countries? A panel investigation
Heinz, Frigyes Ferdinand; Rusinova, Desislava - European Central Bank - 2011
In this paper we estimate the degree of real wage flexibility in 19 EU countries in a wage Phillips curve panel framework. We find evidence for a reaction of wage growth to unemployment and productivity growth. However, due to unemployment persistence, over time the real wage response weakens...
Persistent link: https://www.econbiz.de/10009210931
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Intra-industry trade between CESEE countries and the EU15
Dautovic, Ernest; Orszaghova, Lucia; Schudel, Willem - European Central Bank - 2014
The rapid increase in intra-industry trade (IIT) between the EU15 and Central, Eastern and South-Eastern European (CESEE) countries after the collapse of the Soviet Union indicates a structural change in the nature of trade in CESEE and a new process of transition and real convergence to the EU....
Persistent link: https://www.econbiz.de/10011067226
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Comparing economic dynamics in the EU and CEE accession countries
Süppel, Ralph - European Central Bank - 2003
JEL Classification: E32, E52, F31
Persistent link: https://www.econbiz.de/10005530733
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Exchange Rate Pass-through in Central and Eastern European Member States
Beirne, John; Bijsterbosch, Martin - European Central Bank - 2009
This paper provides estimates of the exchange rate pass-through (ERPT) to consumer prices for nine central and eastern European EU Member States. Using a five-variate cointegrated VAR (vector autoregression) for each country and impulse responses derived from the VECM (vector error correction...
Persistent link: https://www.econbiz.de/10008458418
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Current account benchmarks for central and eastern Europe: a desperate search?
Ca' Zorzi, Michele; Chudik, Alexander; Dieppe, Alistair - European Central Bank - 2009
This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...
Persistent link: https://www.econbiz.de/10005344844
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Fiscal consolidations in the Central and Eastern European countries
Afonso, António; Nickel, Christiane; Rother, Philipp - European Central Bank - 2005
We study fiscal consolidations in the Central and Eastern European countries and what determines the probability of their success. We define consolidation events as substantive improvements in fiscal balances adjusting for the impact of cyclical effects. We use Logit models for the period...
Persistent link: https://www.econbiz.de/10005162904
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Euro area labour markets and the crisis
European Central Bank; Task Force of the Monetary … - 2012
Between the start of the economic and financial crisis in 2008, and early 2010, almost four million jobs were lost in … and remains at around three million workers below the pre-crisis level. However, in comparison with the severity of the … labour hoarding in several euro area countries. While the crisis has, so far, had a more limited or shorter-lived impact in …
Persistent link: https://www.econbiz.de/10010688319
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Euro area labour markets and the crisis
European Central Bank; Task Force of the Monetary … - 2012
Between the start of the economic and financial crisis in 2008, and early 2010, almost four million jobs were lost in … and remains at around three million workers below the pre-crisis level. However, in comparison with the severity of the … labour hoarding in several euro area countries. While the crisis has, so far, had a more limited or shorter-lived impact in …
Persistent link: https://www.econbiz.de/10010693507
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Price effects of sovereign debt auctions in the Euro-zone: the role of the crisis
Beetsma, Roel; Giuliodori, Massimo; de Jong, Frank; … - European Central Bank - 2013
crisis since mid-2007. We also find that there is some tendency of the yield movements to be larger when the demand for the …
Persistent link: https://www.econbiz.de/10010709527
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Financial reputation, market interventions and debt issuance by banks: a truncated two-part model approach
Camba-Méndez, Gonzalo; Carbó-Valverde, Santiago; … - European Central Bank - 2014
financial crisis, but had a negligible impact on uncollateralised debt issuance decisions. JEL Classification: G21, G01, G15 …
Persistent link: https://www.econbiz.de/10011067222