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D'Erasmo, Pablo - 2015

The question of what is a sustainable public debt is paramount in the macroeconomic analysis of fiscal policy. This question is usually posed as asking whether the outstanding public debt and its projected path are consistent with those of the government's revenues and expenditures (i.e. whether...

Persistent link: https://www.econbiz.de/10012457095

Global Pricing of Carbon-Transition Risk

Bolton, Patrick; Kacperczyk, Marcin - National Bureau of Economic Research - 2021

Companies are exposed to carbon-transition risk as the global economy transitions away from fossil fuels to renewable energy. We estimate the market-based premium associated with this transition risk at the firm level in a cross-section of over 14,400 firms in 77 countries. We find a widespread...

Persistent link: https://www.econbiz.de/10012482725

The International Linkage of Real Interest Rates : The European - U.S. Connection

Cumby, Robert E. - 1984

Casual observation indicates that in recent years real interest rates in the United States appear to have risen sharply and have remained high relative to historical standards. Many observers have claimed that these high real rates have been transmitted abroad and have lead to high real rates in...

Persistent link: https://www.econbiz.de/10012477666

Patents as Options : Some Estimates of the Value of Holding European Patent Stocks

Pakes, Ariel - 1984

In many countries holders of patents must pay an annual renewal fee in order to keep their patents in force. This paper uses data on the proportion of patents renewed, and the renewal fees faced by, post World War II cohorts of patents in France, the United Kingdom, and Germany, in conjunction...

Persistent link: https://www.econbiz.de/10012477754

The Heights of Europeans Since 1750 : A New Source For European Economic History

Floud, Roderick - 1984

Economic and social historians have traditionally been concerned to measure changes in the income and welfare of populations in the past.Until recently, however, they have not recognized that anthropometric data, such as evidence on the average height achieved by a population at a particular...

Persistent link: https://www.econbiz.de/10012477779

Immigration and Preferences for Redistribution in Europe

Alesina, Alberto - 2019

We examine the relationship between immigration and attitudes toward redistribution using a newly assembled data set of immigrant stocks for 140 regions of 16 Western European countries. Exploiting within-country variations in the share of immigrants at the regional level, we find that native...

Persistent link: https://www.econbiz.de/10012479516

The Industry Anatomy of the Transatlantic Productivity Growth Slowdown

Gordon, Robert J. - 2019

By merging KLEMS data sets and aggregating over the ten largest Western European nations (EU-10), we are able to … compare and contrast productivity growth up through 2015 starting from 1950 in the U.S. and from 1972 in the EU-10. Data are …-industries. The analysis focuses on outcomes over four time intervals: 1950-72, 1972-95, 1995-2005, and 2005-15. We interpret the EU …

Persistent link: https://www.econbiz.de/10012479654

Skill of the Immigrants and Vote of the Natives : Immigration and Nationalism in European Elections 2007-2016

Moriconi, Simone - 2018

coefficients show that immigration policies balancing the number of high-skilled and low-skilled immigrants from outside the EU …

Persistent link: https://www.econbiz.de/10012480728

Zombie Credit and (Dis-)Inflation : Evidence from Europe

Acharya, Viral V. - 2020

We show that cheap credit to impaired firms has a disinflationary effect. By helping distressed firms to stay afloat, "zombie credit" can create excess production capacity, and in turn, put downward pressure on markups and prices. We test this mechanism exploiting granular inflation and...

Persistent link: https://www.econbiz.de/10012481741

Fiscal Policy in Europe : A Helicopter View

Bilbiie, Florin O. - 2020

We discuss the main fiscal policy issues in the Eurozone. Our goal is pedagogical: we do not make any new proposal, but try to represent fairly the various sides of the debate. We focus on two issues that are at the core of the current debate. The first is that, right from the start, the...

Persistent link: https://www.econbiz.de/10012482336