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Regional Nonadjustment and Fiscal Policy : Lessons for EMU

Obstfeld, Maurice - 1999

How will countries handle idiosyncratic national macroeconomic shocks under the European single currency? The ways in which European countries now react to internally asymmetric shocks provide a better forecast than do the regional response pattern of the United States. In this paper we compare...

Persistent link: https://www.econbiz.de/10012471641

The Economic Future of Europe

Blanchard, Olivier - 2004

After three years of near stagnation, the mood in Europe is definitely gloomy. Many doubt that the European model has a future. In this paper, I argue that things are not so bad, and there is room for optimism. Over the last thirty years, productivity growth has been much higher in Europe than...

Persistent link: https://www.econbiz.de/10012468364

Danger on the Exchange : How Counterparty Risk Was Managed on the Paris Bourse in the Nineteenth Century

Riva, Angelo - 2010

Over the course of the nineteenth century, the struggles of Paris Bourse to manage counterparty risk revealed the awkward choices that face derivatives exchanges. Shortly after it was founded, the stock exchange, primarily a forward market, instituted a mutual guarantee fund to prevent broker...

Persistent link: https://www.econbiz.de/10012463016

Business environment and firm entry : evidence from international data

Klapper, Leora - 2004

"Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have...

Persistent link: https://www.econbiz.de/10010523101

Determinants of Vertical Integration : Finance, Contracts, and Regulation

Acemoglu, Daron; Johnson, Simon; Mitton, Todd - 2005

differences in financial development, contracting costs or regulation. We find cross-country correlations between vertical …

Persistent link: https://www.econbiz.de/10012467255

Business Environment and Firm Entry : Evidence from International Data

Klapper, Leora - 2004

Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have...

Persistent link: https://www.econbiz.de/10012468313

The Regulation of Labor

Djankov, Simeon - 2003

We investigate the regulation of labor markets through employment laws, collective bargaining laws, and social security … generous social security systems. Socialist and French legal origin countries have sharply higher levels of labor regulation …. Heavier regulation of labor is associated with a larger unofficial economy, lower labor force participation, and higher …

Persistent link: https://www.econbiz.de/10012468942

Regulation and Investment

Alesina, Alberto - 2003

the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in … several sectors of many OECD countries, we provide substantial and robust evidence that various measures of regulation in the …

Persistent link: https://www.econbiz.de/10012469140

Regulation, Distribution Efficiency, and Retail Density

Flath, David - 2003

After outlining characteristics of Japan's distribution sector, a comprehensive international comparison of it to those …

Persistent link: https://www.econbiz.de/10012469253

Where does regulation hurt? Evidence from new businesses across countries

Ardagna, Silvia - 2009

We use two micro data sets that collect harmonized data across countries to investigate the effects of regulation on … regulation we use, we always find a detrimental effect of regulation on entrepreneurship. While women are overall less likely to … opportunity but because they could not find better work. Moreover, regulation dampens the effects of self-assessed business skills …

Persistent link: https://www.econbiz.de/10012463900