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National prices and wage setting in a currency union
Sánchez, Marcelo - European Central Bank - 2009
Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typicallypredicts more aggressive wage setting under monetary union. This insight has not beenconfirmed by the EMU experience, which has been characterised by wage moderation,thereby eliciting criticism from Posen and...
Persistent link: https://www.econbiz.de/10005866574
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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
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The effect of financial development on the investment cash flow relationship: cross-country evidence from Europe
Becker, Bo; Sivadasan, Jagadeesh - European Central Bank - 2006
We investigate financing constraints in a large cross-country data set covering most of the European economy. Firm level investment sensitivity to cash flow is used to identify financing constraints. We find that the sensitivities are significantly positive on average, controlling for country...
Persistent link: https://www.econbiz.de/10005816313
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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/10010693511
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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
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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
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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
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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
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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/10010688333
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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