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Job flow dynamics and firing restrictions: evidence from Europe

Messina, Julián; Vallanti, Giovanna - European Central Bank - 2006

We exploit homogeneous firm level data of manufacturing and non-manufacturing sectors to study the impact of firing restrictions on job flow dynamics across 14 European countries. We find that more stringent firing laws dampen the response of job destruction to the cycle, thus making job...

Persistent link: https://www.econbiz.de/10005222374

Business cycles in the euro area

Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - European Central Bank - 2009

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/10005002776

Business cycle synchronisation: disentangling trade and financial linkages

Dées, Stéphane; Zorell, Nico - European Central Bank - 2011

Drawing on a large sample of countries, this paper explores whether closer economic ties between countries foster business cycle synchronisation and disentangles the role of the various channels, including trade and financial linkages as well as the similarity in sectoral specialisation....

Persistent link: https://www.econbiz.de/10008917866

Global inflation

Ciccarelli, Matteo; Mojon, Benoît - European Central Bank - 2005

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22) OECD countries have a common factor that alone account for nearly 70% of their variance. This large variance share that is associated to Global Inflation is not only due to the...

Persistent link: https://www.econbiz.de/10005816183

Sectoral explanations of employment in Europe: the role of services

D’Agostino, Antonello; Serafini, Roberta; … - European Central Bank - 2006

sector, four sub-sectors and twelve service sector branches. Recently, both Europe and the US have experienced an increase in … the growth of service jobs in Europe relative to the US persists. Understanding the main factors behind this gap is key to … achieving higher employment levels in Europe. This paper focuses on the role of barriers in the EU-15 which may have hindered …

Persistent link: https://www.econbiz.de/10005344854

Financial stability challenges in EU candidate countries - Financial systems in the aftermath of the global crisis

ESCB, An IRC expert group of the - European Central Bank - 2010

This paper reviews financial stability challenges in the EU candidate countries: Croatia, the former Yugoslav Republic of Macedonia and Turkey. It follows a macro-prudential approach, emphasising systemic risks and the stability of financial systems as a whole. The paper recalls that the...

Persistent link: https://www.econbiz.de/10008539904

Financial stability challenges in candidate countries - managing the transition to deeper and more market-oriented financial systems.

Bracke, Thierry; Geis, André; Habib, Maurizio; Móré, … - European Central Bank - 2008

This paper reviews financial stability challenges in the EU candidate countries Croatia, Turkey and the former Yugoslav Republic of Macedonia. It examines the fi nancial sectors in these three economies, which, while at very different stages of development and embedded in quite diverse economic...

Persistent link: https://www.econbiz.de/10005530652

Finance and growth: a macroeconomic assessment of the evidence from a European angle

Papaioannou, Elias - European Central Bank - 2007

This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an emphasis on the policy implications in the current European environment, that has placed financial reforms high on the policy Agenda. While more research is needed to establish...

Persistent link: https://www.econbiz.de/10005530674

Financial stability challenges for EU acceding and candidate countries: making financial systems more resilient in a challenging environment

ESCB, IRC Expert Group of the - European Central Bank - 2012

This Occasional Paper reviews financial stability challenges in countries preparing for EU membership with a candidate country status, i.e. Croatia (planned to accede to the EU on 1 July 2013), Iceland, the former Yugoslav Republic of Macedonia, Montenegro and Turkey. It follows a...

Persistent link: https://www.econbiz.de/10010688326

Financial stability challenges in EU candidate countries - Financial systems in the aftermath of the global crisis

ESCB, An IRC expert group of the - European Central Bank - 2010

Persistent link: https://www.econbiz.de/10010688333