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Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets

Blanchard, Olivier - 2001

strong distribution and dynamic effects. The transition may imply the decline of incumbent firms. Unemployment may increase …

Persistent link: https://www.econbiz.de/10012470609

Culture, Policies and Labor Market Outcomes

Giavazzi, Francesco - 2009

policy variables that play a role, along with attitudes, are the tax wedge and unemployment benefits. The quantitative impact …

Persistent link: https://www.econbiz.de/10012463232

European Financial Markets After EMU : A First Assessment

Danthine, Jean-Pierre - 2000

This paper reviews the first evidence on the impact of European Monetary Union on European capital markets, one year after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has either changed the European financial landscape already...

Persistent link: https://www.econbiz.de/10012470687

Looking for Contagion : Evidence from the ERM

Favero, Carlo A. - 2000

This paper applies a full-information technique to test for the presence of contagion across the money markets of ERM member countries. We show that whenever it is possible to estimate a model for interdependence, a test for contagion based on a full information technique is more powerful. We...

Persistent link: https://www.econbiz.de/10012470953

The Transmission Mechanism of Monetary Policy in Europe : Evidence from Banks' Balance Sheets

Favero, Carlo A. - 1999

Available studies on asymmetries in the monetary transmission mechanism within Europe are invariably based on macro-economic evidence: such evidence is abundant but often contradictory. This paper takes a different route by using micro-economic data. We use the information contained in the...

Persistent link: https://www.econbiz.de/10012471558

The Immediate Challenges for the European Central Bank

Dornbusch, Rudiger - 1998

This paper discusses a number of issues that the newly constituted Board of the ECB will face early on. We show how conducting a European monetary policy is very different from living under the protective umbrella of the Bundesbank. We discuss voting on the ECB Board and argue that the ability...

Persistent link: https://www.econbiz.de/10012472449

Attitudes Towards Inflation and the Viability of Fixed Exchange Rates : Evidence From the EMS

Collins, Susan M. - 1992

inflation and unemployment among EMS members since the late 1970s. This paper presents new empirical evidence for this … inflation countries -- France and Italy -- have experienced a decrease in tolerance for inflation relative to unemployment …. Germany and other low inflation countries, in contrast, appear to have experienced a decrease in tolerance for unemployment …

Persistent link: https://www.econbiz.de/10012474922

Can Severe Fiscal Contractions be Expansionary? Tales of Two Small European Countries

Giavazzi, Francesco - 1990

According to conventional wisdom, a fiscal consolidation is likely to contract real aggregate demand. It has often been argued, however, that this conclusion is misleading as it neglects the role of expectations of future policy: if the fiscal consolidation is read by the private sector as a...

Persistent link: https://www.econbiz.de/10012475661

Can The European Monetary System Be Copied Outside Europe? Lessons From Ten Years of Monetary Policy Coordination In Europe

Giavazzi, Francesco - 1988

This paper addresses the question of whether the European Monetary System can be copied outside Europe. Our answer is negative. The EMS is just one element of a more comprehensive design of institutional integration within Europe: the presence of the European Economic Community, and the...

Persistent link: https://www.econbiz.de/10012476271