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Labour supply and incentives to work in Europe
Gómez Salvador, Ramón (contributor) - What explains the pattern of labour supply in Europe … - 2005
Labour Supply and Incentives to Work in Europe highlights recent developments in the labour supply in Europe and gives a detailed assessment of their link with economic policies and labour market institutions. Despite major changes in European labour supply during the past few decades, the...
Persistent link: https://www.econbiz.de/10011851054
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Early estimates of euro area real GDP growth: a bottom up approach from the production side
Hahn, Elke; Skudelny, Frauke - European Central Bank - 2008
This paper derives forecasts for euro area real GDP growth based on a bottom up approach from the production side. That … is, GDP is forecast via the forecasts of value added across the different branches of activity, which is quite new in the … indicators are used to bridge the gap of missing GDP data. The process of selecting the best performing equations is accomplished …
Persistent link: https://www.econbiz.de/10005222305
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Convergence and anchoring of yield curves in the euro area
Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - European Central Bank - 2007
We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional …
Persistent link: https://www.econbiz.de/10005530722
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GDP-Inflation cyclical similarities in the CEE countries and the euro area
Macchiarelli, Corrado - European Central Bank - 2013
GDP-inflation cycles by adopting a trend-cycle decomposition model which allows the trend to be either stochastic or …-in (GDP-to-inflation) and cross-country (CEECs vs. euro area) levels. Allowing for different degrees of cyclical similarity …, we find that a similar inflation vs. GDP cycle is not rejected only for Poland, Lithuania, Romania and Estonia (with …
Persistent link: https://www.econbiz.de/10010686780
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Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness
Afonso, António; Hauptmeier, Sebastian - European Central Bank - 2009
We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The results show that the existence of effective fiscal rules, the degree of public spending decentralization, and the electoral cycle can...
Persistent link: https://www.econbiz.de/10005002774
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The impact of supply constraints on bank lending in the euro area - crisis induced crunching?
Hempell, Hannah Sabine; Kok, Christoffer - European Central Bank - 2010
Aggregate loan development typically hinges on a combination of factors that impact simultaneously on the demand and the supply side of bank lending. The financial turmoil starting in mid-2007 had detrimental consequences for banks’ balance-sheets, cost of funds and profitability, thus...
Persistent link: https://www.econbiz.de/10008694055
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Do bank loans and credit standards have an effect on output? A panel approach for the euro area
Cappiello, Lorenzo; Kadareja, Arjan; Kok, Christoffer; … - European Central Bank - 2010
Applying the identification strategy employed by Driscoll (2004) for the United States, this paper provides empirical evidence for the existence of a bank lending channel of monetary policy transmission in the euro area. In addition, and in contrast to recent findings for the US, we find that in...
Persistent link: https://www.econbiz.de/10008480912
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Have euro area and EU economic governance worked? Just the facts
Ioannou, Demosthenes; Stracca, Livio - European Central Bank - 2011
We test whether two key elements of the EU and euro area economic governance framework, the Stability and Growth Pact and the Lisbon Strategy, have had any impact on macroeconomic outcomes. We test this proposition using a difference-in-difference approach on a panel of over 30 countries, some...
Persistent link: https://www.econbiz.de/10009024967
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The distribution of contract durations across firms: a unified framework for understanding and comparing dynamic wage and price setting models
Dixon, Huw - European Central Bank - 2006
This paper shows how any steady state distribution of ages and related hazard rates can be represented as a distribution across firms of completed contract lengths. The distribution is consistent with a Generalised Taylor Economy or a Generalised Calvo model with duration dependent reset...
Persistent link: https://www.econbiz.de/10005816274
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Exploring the steady-state relationship between credit and GDP for a small open economy: the case of Ireland
Kelly, Robert; McQuinn, Kieran; Stuart, Rebecca - European Central Bank - 2013
policy response has been to focus on the ratio of private sector credit to GDP for an economy, observing, in particular …-state relationship between private sector credit and GDP in the case of Ireland, a country which, even by international standards …
Persistent link: https://www.econbiz.de/10010686848