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Are Specific Skills an Obstacle to Labor Market Adjustment? Theory and an Application to the EU Enlargement
Lamo, Ana; Messina, Julián; Wasmer, Etienne - 2021
, Poland, and a small open economy with increased flexibility, Estonia, we document and find support for our claim …. Quantitative exercises suggest that the overspecializaton of the labor force in Poland explain to a large extent the much higher … and persistent unemployment compared to Estonia during the period of EU enlargement …
Persistent link: https://www.econbiz.de/10013318030
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Modelling Ireland's Exchange Rates : From EMS to EMU
Bond, Derek - 2007
to 2003. It offers an overview of the theory of purchasing power parity (Ppp), focusing particularly on likely sources of …
Persistent link: https://www.econbiz.de/10012775859
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Can We Prevent Boom-Bust Cycles During Euro Area Accession?
Brzoza-Brzezina, Michal - 2010
Euro-area accession caused boom-bust cycles in several catching-up economies. Declining interest rates and easier financing conditions fuelled spending and worsened the current account balance. Over time inflation deteriorated external competitiveness and lowered domestic demand, turning the...
Persistent link: https://www.econbiz.de/10013135123
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Real Exchange Rate Misalignments in the Euro Area
Fidora, Michael - 2017
Building upon a Behavioural Equilibrium Exchange Rate (BEER) model, estimated at a quarterly frequency since 1999 on a broad sample of 57 countries, this paper assesses whether both the size and the persistence of real effective exchange rate misalignments from the levels implied by economic...
Persistent link: https://www.econbiz.de/10012943954
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Export Characteristics and Output Volatility : Comparative Firm-Level Evidence for CEE Countries
Čede, Urška - 2016
an effect on the output volatility of firms. We use large representative firm-level databases from Estonia, Hungary …, Romania, Slovakia and Slovenia over the last boom-bust cycle in 2004-2012. The results confirm that exporting is related to …
Persistent link: https://www.econbiz.de/10012992414
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Potential Output in DSGE Models
Vetlov, Igor - 2011
In view of the increasing use of Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic projections and the policy process, this paper examines, both conceptually and empirically, alternative notions of potential output within DSGE models. Furthermore, it provides historical...
Persistent link: https://www.econbiz.de/10013124588
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The International Dimension of an Incomplete Emu
Ioannou, Demosthenes - 2020
This paper quantifies the economic influence that shocks to EMU cohesion, which in turn reflect the incomplete nature of the monetary union, have on the rest of the world. Disentangling euro area stress shocks and global risk aversion shocks based on a combination of sign, magnitude and...
Persistent link: https://www.econbiz.de/10012824791
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Fiscal Variables and Bond Spreads : Evidence from Eastern European Countries and Turkey
Nickel, Christiane - 2009
, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use …
Persistent link: https://www.econbiz.de/10013155821
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Substitution Between Domestic and Foreign Currency Loans in Central Europe. Do Central Banks Matter?
Brzoza-Brzezina, Michal - 2010
, based on a panel of four biggest Central European countries (the Czech Republic, Hungary, Poland and Slovakia) confirm …
Persistent link: https://www.econbiz.de/10013144575
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The Political Economy Under Monetary Union : Has the Euro Made a Difference?
Fratzscher, Marcel; Stracca, Livio - 2021
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10013316460